Regulatory Alerts2024-05-16
Master Circular for Credit Rating Agencies (CRAs)
The Securities and Exchange Board of India (SEBI) has issued a Master Circular consolidating all existing directives and operational guidelines for registered Credit Rating Agencies (CRAs) as of May 16, 2024. The document standardizes rating symbols and scales across all financial instruments, mandates online registration through the SEBI Intermediary Portal, and requires prior regulatory approval for any change in control or business transfer. It further establishes strict protocols for the suspension, cancellation, or voluntary surrender of CRA registrations, ensuring orderly client migration, continuous disclosure obligations, and robust conflict-of-interest management while superseding all previously issued circulars.
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