List of items which agencies would need to publish *
Compliance checklist: one of the options below each item to be selected
C.
CRA RESPONSIBILITIES TO THE INVESTING PUBLIC, ISSUERS, AND REGULATORS
19.
The Ownership of the agency
A clear and comprehensive account of the ownership has been circulated in the public domain, and is updated whenever there are significant changes in the ownership
(Different statement, drafted by the agency)
No such account has been circulated
20.
The agency's Management and Board Structure
Details (age, qualifications, experience, other directorships) of the key Senior Management, and all Board Members, have been published, and are available in the public domain.
(Different statement, drafted by the agency)
Details of Management and Board Structure not published
21.
Constitution of the Rating Committee
Names and Details (age, qualifications, experience, and other directorships) of the Rating Committee members, including backgrounds and qualifications, have been published, and are available in the public domain.
(Different statement, drafted by the agency)
Rating Committee details not published
22.
Disclosure of what Ratings issued by the agency mean
Our ratings indicate the Probability of default of the rated instrument
Our ratings indicate Loss given default of the rated instrument
(Different statement, drafted by the agency)
23.
Policy on time to communicate ratings
We publicly release our ratings within days of their being assigned and / or accepted. This is known up-front to the parties involved in the process
(Different statement, drafted by the agency)
No explicit policy on timely communication
24.
Guidelines on Rating Rationale: timeliness
Our rationales are published within _days of the rating being assigned / accepted
(Different statement, drafted by the agency)
We have no explicit policy on the timeliness of our rating rationales
25.
Guidelines on Rating Rationale: content
Our rationales include factors taken into account in arriving at the rating, basic financial and operating information (restricted in case of unlisted companies), market position and business outlook
(Different statement, drafted by the agency)
We have no explicit guidelines on what our rationales should contain
26.
Publication of Default and Transition statistics (Normally default and transition statistics are compiled for ratings data over a 10-year history and with a large population of outstanding ratings)
Our default and transition statistics are compiled and disseminated regularly
Our default and transition statistics are compiled for internal analysis but not disseminated
(Different statement, drafted by the agency)
We do not compile default and transition statistics
27.
Existence and publication of a Policy on Unsolicited Ratings: whether they will be undertaken, if so based on what information.
We have a publicly available and communicated policy on unsolicited ratings
We have a policy applied internally, but not externally communicated
(Different statement, drafted by the agency)
No explicit policy on unsolicited ratings
28.
Policy on preserving confidentiality of privileged information (and exceptions for regulatory queries)
We do not reveal confidential information obtained during the rating exercise to anyone under any circumstances
We reveal confidential information obtained during the rating exercise only to regulatory agencies
(Different statement, drafted by the agency)
We do not have a policy on preserving confidentiality of information
D.
DISCLOSURE OF THE CODE OF CONDUCT AND COMMUNICATION WITH MARKET PARTICIPANTS
29.
Publication of the CRA code of conduct
We publicly disclose our code of conduct, and describe how the provisions of our code of conduct fully implement the provisions of the IOSCO code. We also explain deviations, if any, from the IOSCO code and how in spite of these deviations we achieve the objectives contained in the IOSCO provisions.
We have a code of conduct, but do not publish it in the public domain
We do not have a code of conduct
(Different statement, drafted by the agency)
30.
Existence of a dedicated function/group within the organization charged with informing market participants and public regarding any questions, concerns, or complaints that the CRA may receive.
We have a dedicated function/group with our organization that takes care of the above function
We do not have such a group
(Different statement, drafted by the agency)
* To be published on the website, corporate brochures, and handed over with every rating contract and to every employee of the company. Over and above that, it is the choice of the agency where it wants to publish this checklist.
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