HK Eyes Licensing System for Credit Rating Agencies

To meet new standards set by overseas jurisdictions, Hong Kong's Securities and Futures Commission (SFC) plans to implement a licensing system for credit rating agencies (CRAs), reports an AFP story published by The Straits Times.


AFP says that under the proposed licensing system, CRAs and their analysts will be required to disclose how they review companies and investment products before they could obtain a licence.


The watchdog also reveals it plans to tighten regulation of CRAs.


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