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MANILA, Philippines – The Securities and Exchange Commission (SEC) plans to overhaul the rules governing credit rating agencies (CRAs), as it moves to strengthen investor protection and support development of the country’s corporate bond market.
In a consultation paper released for public comment until July 24, the SEC drafted a memorandum circular to amend Rule 39.1.5 of the 2015 Implementing Rules and Regulations of the Securities Regulation Code.
READ: SEC eyes new derivative market with structured warrant rules
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