RESTRICTION ON RATING OF SECURITIES ISSUED BY PROMOTERS OR BY CERTAIN OTHER PERSONS - Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999
RESTRICTION ON RATING OF SECURITIES ISSUED BY PROMOTERS OR BY CERTAIN OTHER PERSONS - Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999
ESG rating provider compliance requires prior approval for control changes, reporting of material changes, capital maintenance and activity limits. Conditions for an ESG rating provider's certificate include continuing compliance with the Act, regulations and Board guidance, prompt written notice to ... Summary
ESG rating provider compliance requires prior approval for control changes, reporting of material changes, capital maintenance and activity limits.
Conditions for an ESG rating provider's certificate include continuing compliance with the Act, regulations and Board guidance, prompt written notice to the Board of materially false or changed information, prior Board approval for any change in control, maintenance of the minimum liquid net worth, payment of registration fees, and restriction of activities to ESG rating services or Board-specified incidental activities. Applicants must meet declared targets within specified times, with failure requiring additional capital or remedial measures within six months or as specified by the Board. ESG ratings carried out under other financial sector regulator guidelines remain under those regulators' purview.
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