NEW DELHI, July 19: Capital markets regulator SEBI on Friday allowed credit rating agencies and ESG rating providers to undertake their activities under the International Financial Services Centres Authority (IFSCA).
IFSCA has been added to the list of financial sector regulators to enable Credit Rating Agencies (CRAs) and ESG Rating Providers (ERPs) to undertake rating and ESG rating activities, respectively, at IFSC-GIFT City, Gujarat, SEBI said in separate circulars.
ESG ratings undertaken by an ERP under the guidelines of IFSCA shall be under the purview of IFSCA.
Any issue arising from the activities of such Sebi-registered CRAs and ERPs in the IFSC will be dealt with by IFSCA.
Further, IFSCA will be responsible for dealing with complaints, enforcement actions and furnishing information to third parties, including statutory or judicial bodies, with respect to the services provided by ERPs in IFSC.
This circular will be applicable with immediate effect. (PTI)
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