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<h1>Past risk and return verification: credit rating agencies may perform verification with Board approval and exchange data centre engagement.</h1> A credit rating agency may, with the Board's approval and subject to Board-prescribed terms and conditions, perform the activity of a Past Risk and Return Verification Agency as referenced in Regulation 16E of the intermediaries regulations. Such a verification agency must engage a recognised stock exchange to act as the Past Risk and Return Verification Agency Data Centre on terms and conditions specified by the Board.