A registered credit agency must—
| (b) |
provide the registrar with any information required in terms of this Act; |
| (c) |
within 14 days of becoming aware of any change, inform the registrar if any information submitted in respect of its application under section 5 has changed; |
| (d) |
be organised in a way that ensures that its business interest does not impair the independence and integrity of its credits ratings or the accuracy of its credit rating services; |
| (e) |
have sound administrative and accounting procedures, internal control mechanisms, effective procedures for risk assessment, and effective control and safeguarding arrangements for information-processing systems; |
| (f) |
establish appropriate and effective organisational and administrative arrangements to— |
| (ii) |
protect confidential information made available to it by issuers, including prohibiting its analysts and employees from using such information to enter into transactions; |
| (g) |
employ appropriate systems, resources and procedures to ensure continuity and regularity in the performance of its credit rating services; |
| (h) |
regularly monitor and evaluate the adequacy and effectiveness of its systems, internal control mechanisms and arrangements and take appropriate measures to address any deficiencies; |
| (i) |
ensure that at all times it has the necessary knowledge and experience to issue credit ratings and perform its credit rating services; and |
| (j) |
establish a unit within its organisation whose function is to communicate with investors, potential investors and the public about any questions, concerns or complaints that it may receive. |
South African Institute for Drug Free Sport Act, 1997
