Credit Rating Services Act, 2012 (Act No. 24 of 2012)Board NoticesCredit Rating Agency RulesPart XI : Responsibilities to Investors and the Public17. General duties of credit rating agencies |
| (1) | A credit rating agency must at all times render credit rating services honestly, fairly, with due skill and diligence and in the interest of the integrity of the credit rating services industry. |
| (2) | A credit rating agency and its employees must deal fairly and honestly with rated entities, investors, other market participants and the public. |
| (3) | A credit rating agency may not request or induce, in any manner, a rated entity or investor to waive any right or benefit conferred on the rated entity or investor by or in terms of the Act and these Rules, or recognise, accept or act on any such waiver by the rated entity or investor, and any such waiver is null and void. |
| (4) | Upon becoming aware that another employee or entity related to the credit rating agency is or has engaged in conduct that is illegal, unethical or contrary to the credit rating agency's code of conduct, the Act or these Rules, a credit rating agency employee must report such information immediately to the compliance officer or an officer of the credit rating agency, as appropriate. |
| (5) | A credit rating agency may not subject an analyst or an employee of the credit rating agency, who in good faith has made a report as contemplated in sub-paragraph (4), to occupational detriment, including being subjected to any disciplinary action or otherwise being adversely affected in respect of his or her employment, profession or office. |