Administrative Measures for the Credit Rating Business in the Securities Market were adopted on 23 Feb. 2021, and entered into force on 26 Feb. 2021.
There are 49 articles in total. The Measures aim to regulate the credit rating business in the securities market and protect the legitimate rights and interests of investors and public interests.
The key points are as follows:
1.The credit rating agencies engaging in the credit rating business in the securities market shall file a record with China Securities Regulatory Commission in accordance with the Securities Law, the Measures and other relevant provisions.
The securities rating agencies shall establish a rating project team to conduct due diligence on the rated object and collect relevant materials. Besides, the securities rating agencies shall establish a credit review committee system, a re-rating system, a rating result publication system, a follow-up rating system and an information confidentiality system for securities rating business.
When carrying out the securities rating business, the securities rating agencies and their staff shall not violate the fair competition, conduct tunneling, seek illicit benefits directly or indirectly, or commit any other act that disrupts the market order.