The Securities and Exchange Board of India (SEBI) on July 05, 2023, published the Securities and Exchange Board of India (Credit Rating Agencies) (Amendment) Regulations, 2023 to further amend the Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999.
This shall come into force on July 05, 2023
The following has been amended namely: -
• After Chapter IV which states “Restriction on Rating of Securities Issued by Promoters or by Certain Other Persons” the following chapter shall be inserted, namely: -
“CHAPTER IV A- ESG RATING PROVIDERS
(i) 28A. states the Applicability
(ii) 28B. deals with the Definitions
(iii) 28C. incorporates the provisions pertaining to the Registration of ESG rating providers
(iv) 28D. lays down the Application for the Grant of Licence
(v) 28E. states the eligibility criteria
(vi) 28F. deals with the provisions related to the Furnishing of further information, clarification, and personal representation
(vii) 28G. states the Grant of the certificate as an ESG rating provider
(viii) 28H. states the Conditions of Certificate
(ix) 28I. states the Procedure where the certificate is not granted
• Form A lays down the form for the Application for grant of Certificate of Registration as an ESG rating provider
• Form B lays down the form of Certificate of Registration as an ESG rating provider
[Notification No. SEBI/LAD/NRO/GN/2023/136]
