Share on LinkedInShare on LinkedIn

ARTICLE · 20 SEPTEMBER 2018

Regulatory Update For Rating Agencies

Regulatory burdens on minority legal entity shareholders of rating agencies have been reduced.

TurkeyCorporate/Commercial Law

Regulatory burdens on minority legal entity shareholders of rating agencies have been reduced.

1. Recent Amendment

On 19 September 2018, Capital Markets Board of Turkey published the Communiqué (Serial VIII, No: 77) Amending the Communiqué on the Principles of Rating Activities and Rating Agencies (Serial VIII, No: 51) ("Amendment Communiqué") amending the Communiqué on the Principles of Rating Activities and Rating Agencies (Serial VIII, No: 51) ("Communiqué") which entered into force on the same day.

With the Amendment Communiqué;

  • Legal entity shareholders who directly or indirectly own less than ten (10) percent of the rating agencies' capital, are excluded from the prohibition on engaging into commercial and/or professional activities at or with other rating agencies, clients of the rating agencies, certain affiliated parties, trading activities of the capital market instruments issued by the clients and other commercial and/or professional activities

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

See more popular content from