Regulatory use - Asia Pacific
The above graph is a simplified presentation - it mentions all CRAs head-quartered in the Asia Pacific region. Note that some agencies may be registered in several countries and that CRAs from other regions may be equally be recognized. We have retained from mentioning all as this would overcharege the graph.
Hong Kong
Legal framework
The regulatory regime governing CRAs operating in Hong Kong became effective on 1 June 2011 under the supervision of the Securities & Futures Commission of Hong Kong ("SFC")
Registered players
According to the SFC website (update October 10th, 2012), the following companies have a Type 10 (“providing credit rating services”) license:
Relation with European Union
On March 15th, ESMA announced that EU-registered CRAs may endorse credit ratings issued in Hong Kong.
Japan
The Financial Services Agency of Japan (“FSA Japan”) is the supervisor of CRAs in Japan.
Registered Credit Rating Agencies:
Currently registered are the following companies
Source: http://www.fsa.go.jp/en/regulated/licensed/cra.pdf
The Japanese regualtory regime on CRAs is equivalent to the European framework
Singapore
Currently registered with the Monetary Authority of Singapore (“MAS”) are the following companies:
- A.M. Best Asia-Pacific (Singapore) PTE. LTD.
- Fitch Ratnigs Singapore PTE Ltd
- Moody’s Investors Services Singapore PTE Ltd
- Standard & Poor’s Singapore PTE ltd.
Relation with European Union
On March 15th, ESMA announced that EU-registered CRAs may endorse credit ratings issued in Singapore. In July 2012, ESMA and the Monetary Authority of Singapore (“MAS”) entered into a Memorandum of Understanding regarding the cooperation of competent authorities for the supervision of Credit Rating Agencies.