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28 October 2020, ACRAA Webinar Program
Code of Ethics
to be followed by Rating Agencies
Adopted during the ACRAA Membership Meeting
on 25 October 2002
Member Credit Rating Agencies shall put in place systems and procedures to ensure the following :

The proceedings of a credit rating board / rating committee, are kept confidential at all times, and not revealed to any external parties or agencies. If any records of the proceedings are made, credit rating agencies must take steps to keep such records properly safeguarded, except where required to be disclosed by the provisions of laws or regulations.

When the credit rating board decides on a rating, it shall be announced as a joint decision and the individual votes shall be kept confidential, even if recorded. This requirement of confidentiality shall apply to rating board members for their own votes as well.
When and after a credit rating board / rating committee member or credit rating agency employee terminates his/her employment or work association with the rating agency, the requirement of confidentiality with respect to the information received during the period of work association shall continue as information held in trust.
4. A credit rating board / rating committee member does not take undue material advantage of any confidential information received through his or her participation in a credit rating process. Persons involved in the ratings process should also be made vigilant to prevent abuse of prior knowledge of ratings changes.
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