search this site - type your query and submit

Daily Email Newsletter (Sign-up Free)

SEBI (Credit Rating Agencies) (Second Amendment) Regulations 2018

Securities and Exchange Board of India (SEBI) Notification dated 11th September 2018, reads as follows:-

No. SEBI/LAD-NRO/GN/2018/36.- In exercise of the powers conferred by section 30 read with section 11 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following Regulations to further amend the Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999, namely:-

1. These Regulations may be called the Securities and Exchange Board of India (Credit Rating Agencies) (Second Amendment) Regulations, 2018.

2. They shall come into force on the date of their publication in the Official Gazette.

3. In the Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999,

 i. in regulation 9, clause (f) shall be substituted with the following, namely –

  “(f) a credit rating agency shall not carry out any activity other than the rating of securities offered by way of public or rights issue.

Nothing contained in these regulations shall preclude a credit rating agency from rating of financial instruments under the respective guidelines of a financial sector regulator or any authority as may be specified by the Board.

Provided that all other activities shall be segregated to a separate entity within a period of two years from the date of notification of Securities and Exchange Board of India (Credit Rating Agencies)(Amendment) Regulations, 2018.”

No comments:

Post a Comment

In comment with "Name/Url" option, only Name is mandatory to be filled.