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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Conduct of Business Module (COB) [VER32/02-19]
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Aug 16 2012 - Jul 13 2013Jul 14 2013 onwards

COB 8.10.1

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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) A Credit Rating AgencyG must, for a minimum of six years, maintain sufficient records in relation to each activity and function of the Credit Rating AgencyG and, where appropriate, audit trails of its Credit Rating ActivitiesG . These must include, where applicable, the following:
(a) for each Credit RatingG :
(i) the identity of the Rating AnalystsG participating in the determination of the Credit RatingG ;
(ii) the identity of the individuals who have approved the Credit RatingG ;
(iii) information as to whether the Credit RatingG was solicited or unsolicited;
(iv) information to support the Credit RatingG ;
(v) the Accounting RecordsG relating to fees and charges received from or in respect of the Rating SubjectG ;
(vi) the internal records and files, including non-public information and working papers, used to form the basis of any Credit RatingG ; and
(vii) credit analysis and credit assessment reports including any internal records and non-public information and working papers used to form the basis of the opinions expressed in such reports;
(b) the Accounting RecordsG relating to fees received from any person in relation to services provided by the Credit Rating AgencyG ;
(c) the Accounting RecordsG for each subscriber to the Credit Rating Agency'sG services;
(d) the records documenting the established procedures, methodologies, models and assumptions used by the Credit Rating AgencyG to determine Credit RatingsG ; and
(e) copies of internal and external communications, including electronic communications, received and sent by the Credit Rating AgencyG and its EmployeesG that relate to Credit Rating ActivitiesG .
(2) For the purposes of (1), the six year period commences from the date the Credit RatingG is disclosed to the public or distributed by subscription.
[Added] DFSA RM97/2012 (Made 24th July 2012) [VER20/07-12]
[Amended] DFSA RM123/2013 (Made 13th June 2013) [VER22/07-13]