Code of conduct

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....gment in order to achieve and maintain objectivity and independence in the rating process. 5. A credit rating agency shall have a reasonable and adequate basis for performing rating evaluations, with the support of appropriate and in depth rating researches. It shall also maintain records to support its decisions. 6. A credit rating agency shall have in place a rating process that reflects consistent and international rating standards. 7. A credit rating agency shall not indulge in any unfair competition nor shall it wean away the clients of any other rating agency on assurance of higher rating. 8. A credit rating agency shall keep track of all important changes relating to the client companies and shall develop efficient and responsive....

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....nowledge and competence and abide by the provisions of the Act, regulations and circulars, which may be applicable and relevant to the activities carried on by the credit rating agency. The credit rating agency shall also comply with award of the Ombudsman passed under the Securities and Exchange Board of India (Ombudsman) Regulations, 2003. 15. A credit rating agency shall ensure that there is no misuse of any privileged information including prior knowledge of rating decisions or changes. 16. (a) A credit rating agency or any of his employees shall not render, directly or indirectly any investment advice about any security in the publicly accessible media. (b) A credit rating agency shall not offer fee-based services to the rated entit....