The Securities and Exchange Board of India vide its notification dated 24th January 2022 has published the Securities and Exchange Board of India (Credit Rating Agencies) (Amendment) Regulations, 2022 to further amend the Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999.
The Amendment is brought under regulation 9 which deals with conditions of certificate in which sub-clause F has been substituted as follows:
A credit rating agency carrying out any activity as may be specified by the Board and rating of securities that are listed or proposed to be listed on a stock exchange recognized by the Board
Nothing contained in these regulations shall preclude a credit rating agency from rating of financial instruments under the respective guidelines of a financial sector regulator or any authority as may be specified by the Board:
Provided that all other activities shall be segregated to a separate entity within a period of two years from the date of notification of Securities and Exchange Board of India (Credit Rating Agencies) (Amendment) Regulations, 2018.
