Regulatory Alerts2020-04-06
FSCA Exemption of Fitch Ratings Limited from Credit Rating Services Act Requirements
The Financial Sector Conduct Authority has granted Fitch Ratings Limited a two-year exemption from registration under the Credit Rating Services Act, 2012, to continue issuing sovereign credit ratings. This exemption simultaneously permits designated regulated persons to utilize Fitch’s sovereign ratings for their regulatory compliance and supervision activities. National Treasury’s request ensures continued macroeconomic stability and debt-raising capacity without prejudicing clients or regulatory objectives, given Fitch’s existing European Union certification.
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