SEBI extends timeline for applicability of standardized industry classification by CRAs
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Circular No. SEBI/HO/DDHS/DDHS-RACPOD2/P/CIR/2022/134, Dated: 30.09.2022
Earlier, the SEBI had advised CRAs to implement standardized industry classification by 30th Sep, 2022 for the purpose of rating exercise. , peer benchmarking, research activities including research for Economy, Industries, Companies, etc. Now, the SEBI has extended the date of applicability of the standardized industry classification from 30th Sep, 2022 to 30th Nov 2022 on the basis of various representations received from CRAs requesting for an extension.
Further, monitoring of the implementation of standardized industry classification shall be done in terms of the half-yearly internal audit for CRAs, mandated under Regulation 22 of the SEBI (Credit Rating Agencies) Regulations, 1999 and circulars issued thereunder.
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