New Regulatory Framework for Credit Rating Agencies

18 Jan 2012

The Monetary Authority of Singapore has set up a new regulatory framework for credit rating agencies (“CRA”). From 17 January 2012, CRAs must hold a capital markets services (“CMS”) licence. As is the case with other CMS licence holders, the individuals employed by the CMS licence holder in conducting the regulated activity are considered representatives and fall under individual regulation within the MAS representative notification framework.

To read the update, please click here.