SECP specifies foreign credit rating institution

The Securities and Exchange Commission of Pakistan (SECP) has declared the Rating and Investment Information Inc., Japan, as internationally recognized foreign credit rating institution. In this regard, the SECP has issued S.R.O. 1158 (I)/2019 here on Tuesday.
According to the notification, in exercise of the powers conferred under section 40B of the Securities and Exchange Commission of Pakistan Act, 1997 read with clause (g) of regulation 4 of the Credit Rating Companies Regulations, 2016, the SECP has specified the Rating and Investment Information Inc., Japan, as internationally recognized foreign credit rating institution for the purpose of entering into joint venture or technical collaboration arrangement with a credit rating company in Pakistan, SECP added.