Section 17 in Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999
17. Internal procedures to be framed.
- Every credit rating agency shall frame appropriate procedures and systems for monitoring the trading of securities by its employees in the securities of its clients, in order to prevent contravention of-(a)the Securities and Exchange Board of India (Insider Trading) Regulations, 1992;(b)the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to the Securities Market) Regulations, 1995; and(c)other laws relevant to trading of securities.
