Regulatory Alerts2022-10-18
Added · Updated
Credit Rating Companies Regulations, 2016 (Amended till September 19, 2022)
The Securities and Exchange Commission of Pakistan establishes licensing, operational restrictions, and obligations for credit rating companies under the Securities Act, 2015. Applicants must satisfy fit and proper criteria, maintain a joint venture with an internationally recognized institution for five years, and ensure sponsors hold at least 20% of the board. The regulations mandate that at least 25% of shares be held by specified entities for three years, prohibit ratings where directors have conflicts of interest, and require prior Commission approval for shareholding changes exceeding 10%.
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