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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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Conduct of Business Module (COB) [VER32/02-19]
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(1 version)
 
Aug 16 2012 onwards

COB 8.8.1

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The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

(1) Subject to the confidentiality requirements applicable to a Credit Rating AgencyG , it must ensure that its Credit RatingsG :
(a) are published promptly, and as far as practicable, on a nonselective basis and free of charge;
(b) contain sufficient information to enable users of such Credit RatingsG to understand how the Credit RatingG was reached, including information relating to the methodologies, models and key underlying assumptions used;
(c) contain a clear statement if the Credit RatingG is initiated by the Credit Rating AgencyG on its own initiative (unsolicited), and information relating to the Credit Rating Agency'sG policy relating to providing unsolicited Credit RatingsG ;
(d) contain sufficient information about the historical default rates of its Credit RatingsG which are of the same category as the Credit RatingG being published so that interested parties can understand the historical performance of its Credit RatingsG ; and
(e) include any other information relevant to the particular Credit RatingG , as specified in this module.
(2) A Credit Rating AgencyG must ensure that any press release which accompanies a Credit RatingG contains key elements underlying the Credit RatingG .
(3) Before publishing a new or an updated Credit RatingG or withdrawing a Credit RatingG , the Credit Rating AgencyG must, to the extent practicable and appropriate, give to the Rating SubjectG sufficient advance notice to enable that PersonG to draw to the attention of the Credit Rating AgencyG any factual errors on which the Credit Rating AgencyG may have based the relevant Credit RatingG .
(4) Subject to the confidentiality requirements applicable to a Credit Rating AgencyG , any information which the Credit Rating AgencyG is required to publish pursuant to any Rules must also be made available on the website of the relevant Credit Rating AgencyG .
[Added] DFSA RM97/2012 (Made 24th July 2012) [VER20/07-12]