Licenses library · 228
License to Operate a Foreign Credit Rating Agency
外国信用评级机构经营许可证
ໃບຮັບຮອງບໍລິສັດຈັດລຳດັບຄວາມໜ້າເຊື່ອຖືຈາກຕ່າງປະເທດ
A Credit Rating company established and operating in other country that intends to provide credit rating services relating to securities, including: 1. rating of quality and risk of the securities; 2. rating of the management system; and 3. rating of the financial status of the listed companies Apply at Lao Securities Commission Office (021 217770;).
Who needs this
A Credit Rating company established and operating in other country that intends to provide credit rating services relating to securities, including: 1. rating of quality and risk of the securities; 2. rating of the management system; and 3. rating of the financial status of the listed companies
Requirements
- Being the international credit rating company that is reputable and internationally acknowledged or being the credit rating company listed in the country that is a member of IOSCO or the country that has the MOU with LSCO
- Having a good reputation and having experience in credit rating work
- Having a guaranteed and standardized internal management system
- Having at least 2 credit rating officers that got the CFA certificate, Rating practitioner certificate issued by the securities authorities from abroad and that have the working experience in credit rating for at least 2 years
- Having good financial conditions or having a profitable operation for at least 1 year after the issuance of the application to LSCO
Documents — first application
| Document | Note |
|---|---|
| Copy of Chartered Financial Analyst | |
| Company's Regulations | |
| Business Plan | |
| Application Form | as defined by the LSCO |
| Business Activities Report | and financial reports a year before submitting the application to LSCO |
| Enterprise Registration Certificate | or copy of Establishment Permit |
| Curriculum Vitae | of the Credit Rating Practitioners. Use the template by the LSCO |
| Certificate of Rating Practitioner | or Certification from the Securities Authority in rating practitioner's country of origin |
Legal framework
- Law on Securities
- Regulation on Approval of Foreign Credit Rating Agency
How to submit
- Means of presentation
- At the Authority Offices
- Address of authority
- Lao Securities Commission Office, Bank of Lao PDR
- Processing time
- 30
Validity and renewal
- Has an expiry date
- YES
- Validity
- 36 months
- Renewal process
- The Company must provide documentation and comply with the requirements to LSCO before 45 days prior to the expiry date.
Additional comment
The provision of the credit rating without getting the license shall be subject to the penalty of 100 Million LAK. Please refer to article 114 of Regulation 002/LSCO, dated 08 December 2015.