Which Scope of Activities Do Credit Rating Agencies Operate Within?

19:12, 10/07/2024

Recently, the Government of Vietnam has just agreed to issue Decree 88/2014/ND-CP regulating credit rating services.

The scope of activities, credit rating enterprises, Decree 88/2014/ND-CP

Source: Internet

The scope of activities of credit rating enterprises is regulated by the Government of Vietnam in Decree 88/2014/ND-CP as follows:

- Credit rating services as stipulated in Decree 88.- Services related to credit rating activities, including:

- Information services on credit ratings;- Training, fostering, and updating knowledge related to credit rating activities.

- When providing services related to credit rating activities stipulated in Clause 2, Article 12, credit rating enterprises must ensure that no conflicts of interest occur as stipulated in Article 38 of Decree 88.- Credit rating enterprises are not allowed to operate in the following fields:

- Accounting and auditing;- Securities, including brokerage; consulting; underwriting; securities distribution agency; fund management; portfolio management; securities investment;- Banking.

Therefore, credit rating enterprises are only allowed to perform activities limited within the above-mentioned scope.

Refer to the related provisions in Decree 88/2014/ND-CP effective from November 15, 2014.

Thu Ba

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