Thursday, February 2, 2023
Google search engine
HomeMarketStocksCredit rating agencies: Sebi extends deadline for standardised framework implementation

Credit rating agencies: Sebi extends deadline for standardised framework implementation

Markets regulator Sebi on Thursday prolonged the deadline until December 15 for credit rating companies to implement the standardised framework for business classification. The framework is for score train and analysis actions.

That is the second time that Sebi has prolonged the timeline to implement the framework. Initially, the deadline was September 30, which was prolonged until November 30.

In view of representations obtained from credit score companies, it has been determined to increase the date of applicability of the standardised business classification until December 15, the Securities and Exchange Board of India (Sebi) mentioned in a round.

Underneath the rules, credit standing companies will must implement standardised business classification for the aim of score train, peer benchmarking and analysis actions.

The standardised framework will assist result in uniformity within the classification getting used throughout sectors and in securities market.

Additional, Sebi mentioned that monitoring of implementation of standardised business classification shall be completed by way of the half-yearly inside audit for credit standing companies.

Individually, Sebi got here out with an operational round for itemizing obligations and disclosure necessities for issuers of listed non-convertible securities, securitised debt devices and business paper.

This has been completed for the efficient regulation of the company bond market and to allow the issuers and different market stakeholders to get entry to all of the relevant circulars at one place.

Underneath the brand new round, the format for submission of assertion indicating the utilisation of situation proceeds of listed non-convertible securities to the inventory exchanges, by the listed entities has been included.

Additional, the regulator got here out with a brand new format for the evaluate of scores obtained by the listed entity with respect to its non-convertible securities from credit standing companies. It has additionally issued codecs for submissions to be made by listed entity to the inventory exchanges for curiosity or dividend or principal.

Source link

- Advertisment -
Google search engine

Most Popular

Recent Comments