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Article NO. Content

Title：

Regulations Governing the Administration of Credit Rating Agencies  CH

Amended Date： 2015.12.31 
Article Content Content Search Article No. Search Legal Basis Amended Article Legislative History Chinese
Article 22     Members of the credit rating committee, managerial officers, or associated persons of a credit rating agency may not participate in the credit rating procedure under any of the following circumstances:
  1. The member is currently employed by, engages in regular work on behalf of, or receives regular salaries from the rated entity or the issuer, originator, arranger, or underwriter of the rated instrument.
  2. The entity at which the member or the member's spouse is currently employed, and the rated entity or the issuer, originator, arranger, or underwriter of the rated instrument, are mutually related parties.
  3. The member was previously employed by the rated entity or by the issuer, originator, arranger, or underwriter of the rated instrument, and less than two full years has elapsed since the employment ended.
  4. The member is a spouse or a relative within the second degree of kinship of a responsible person or managerial officer of the rated entity, or of the issuer, originator, arranger, or underwriter of the rated instrument.
  5. The member or member's spouse has an investment or benefits-sharing relationship with the rated entity or with the issuer, originator, arranger, or underwriter of the rated instrument.
  6. Securities or other financial instruments that are held or traded by the member, the member's spouse, minor child, or under another person's name, fall in any of the following circumstances:
    1. Securities or other financial instruments that are rated, or that are issued by a rated entity.
    2. Securities or other financial instruments that are primarily linked to those mentioned in the preceding item.
    3. Securities or other financial instruments issued by an affiliated entity of a rated entity, or the issuer, originator, arranger, or underwriter of a rated instrument, provided that this restriction does not apply if there is no conflict of interest on the credit rating processor result.
  7. The member is the certified public accountant for the rated entity or the issuer of the rated instrument.
  8. Other circumstance that may cause a conflict of interest on the credit rating process or results.