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News From Press Sebi plans additional checks for rating firms

Sebi plans additional checks for rating firms

Source: Livemint Jan 15, 2016

The Securities and Exchange Board of India (Sebi) will likely ask rating agencies to set up independent internal assessment teams, which will be required to assess whether the rating assigned to a company is appropriate or not, said two persons familiar with the regulator’s thinking. These in-house teams will offer a second level of check on recommendations made by the ratings committees of these agencies and act at an arm’s length from the latter, they said.

In addition, rating agencies will be asked to give clear reasons if they choose to withdraw their rating on a company. The changes, though, may not make a huge difference, said experts.

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