Credit rating agencies: SEBI compiles a master circular standardising registration, rating operations, disclosures, audits and governance. SEBI's Master Circular consolidates and updates regulatory requirements for Credit Rating Agencies: mandatory online registration and prior approval for change in control; procedures for transfer, suspension, cancellation or surrender of registration including client migration; standardized rating scales, mandatory Operations Manuals, rating criteria, and press release templates; monitoring, default recognition and non cooperation rules with timelines; withdrawal and provisional rating norms; PD benchmark and default/transition reporting; internal audit, outsourcing, firewall and conflict of interest safeguards; and enhanced disclosure, governance and reporting obligations.
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Credit rating agencies: SEBI compiles a master circular standardising registration, rating operations, disclosures, audits and governance.
SEBI's Master Circular consolidates and updates regulatory requirements for Credit Rating Agencies: mandatory online registration and prior approval for change in control; procedures for transfer, suspension, cancellation or surrender of registration including client migration; standardized rating scales, mandatory Operations Manuals, rating criteria, and press release templates; monitoring, default recognition and non cooperation rules with timelines; withdrawal and provisional rating norms; PD benchmark and default/transition reporting; internal audit, outsourcing, firewall and conflict of interest safeguards; and enhanced disclosure, governance and reporting obligations.
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