from the date on which such questionable conduct is found. Clause 16 A securities company shall keep records of giving of advice, accepting of trading orders, and negotiation on securities investment

entities, obligors, originators, underwriters, and arrangers, on one side, and users of credit ratings on the other. Rating analyses of low quality or produced through a process of questionable integrity are

quality or produced through a process of questionable integrity are either of little use to or misleading for market participants. Stale credit ratings that fail to reflect changes to the financial