New rules for how credit ratings agencies advertise

2015-09-18 20:00

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Johannesburg – Draft rules published on Friday intend to protect investors from fraudulent conduct by credit ratings agencies in their advertising.

Ratings agencies must use plain and understandable language and define terms to avoid misunderstanding, according to the draft rules published by the credit ratings agencies’ registrar in the Government Gazette.

Such advertisements and marketing material should not mislead or exaggerate and should disclose the source and date of any statistics, achievements or awards referred to. 

Apart from protecting investors, the aim of the rules is to promote the use of plain and understandable language in information disseminated by ratings agencies.

Where comparative advertising was used, it had to be fair and factual and avoid unfairly discrediting or ridiculing the competition.

Written comments on the draft rules have to be submitted to the Financial Services Board by October 23.

Read more on:    ratings agencies

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