Appointment of Compliance Officer requires credit rating agencies to monitor compliance and immediately report any noncompliance. Regulation 20A mandates that every credit rating agency shall appoint a Compliance Officer responsible for monitoring compliance with the Act, rules, regulations, notifications, guidelines and instructions issued by the Board or the Central Government, and the Compliance Officer shall immediately and independently report any non compliance observed by him to the Board.
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Provisions expressly mentioned in the judgment/order text.
Appointment of Compliance Officer requires credit rating agencies to monitor compliance and immediately report any noncompliance.
Regulation 20A mandates that every credit rating agency shall appoint a Compliance Officer responsible for monitoring compliance with the Act, rules, regulations, notifications, guidelines and instructions issued by the Board or the Central Government, and the Compliance Officer shall immediately and independently report any non compliance observed by him to the Board.
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