Prohibited acts regarding credit rating services in Vietnam

Prohibited acts regarding credit rating services in Vietnam (Internet image)

According to Decree 88/2014/ND-CP, prohibited acts regarding credit rating services in Vietnam include:

1. Modifying, erasing or forging documents in dossiers for which business eligibility certificates have been granted.

2. Modifying, erasing or forging business eligibility certificates.

3. Leasing or transferring business eligibility certificates.

4. Providing credit rating services without business eligibility certificates as prescribed by this Decree.

5. Demanding or receiving money or any benefits from rated organizations other than credit rating service charges agreed upon in signed credit rating contracts.

6. Using results of credit rating and issuance of debt instruments by rated organizations as a basis for determining credit rating service charges.

7. Colluding with or contacting rated organizations to falsify credit rating results.

8. Falsifying credit rating results.

9. Publicizing credit rating results without credit rating contracts with rated organizations.

10. Providing credit rating services in the cases of conflict of interest prescribed in Article 38 of this Decree, for analysts and members of credit rating councils.

11. The following acts of organizations subject to credit rating:

• Obstructing credit rating activities of analysts;

• Providing false or untruthful information and documents related to the credit rating;

• Intimidating, bribing or colluding with analysts and members of credit rating councils or agencies to falsify credit rating results.

More details can be found in Decree 88/2014/ND-CP, taking effect on November 15, 2014.

Thuy Tram

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE