will advise the SEC regarding misconduct of securities analysts in accordance with professional standards thereby ensuring transparency and fairness of disciplinary procedures. This committee will

the independence and objectivity of credit rating operations; Transparency and timeliness of ratings disclosure CRAs should make disclosure and transparency an objective of their ratings activities; and

be a qualified person with independence, objectivity and required competency;  (3) Update the requirements per current standards and guidelines to be in alignment with international standards and other

that pay for a non-executive director and/or a non- executive chair is structured in a way which ensures independence, objectivity, and alignment with shareholders’ interests. Performance-based pay

competition law. However, if co-operation does not involve issues of corporate control, or conflict with concerns about market efficiency and fairness, the benefits of more effective ownership may still be

our duties in various areas will reflect our commitment to independence, transparency and fairness for all. This is how we build trust and confidence. Personally, I would be pleased and thankful for

For greater transparency and fairness of the allocation of initial public offering (IPO) or public offering (PO) securities, the SEC approved draft rules prohibiting the allocation of IPO/PO

shall impose stricter sanctions to further ensure fairness and market reliability.

conflicts of interest arising due to the relationships that may compromise or appear to compromise the independence and objectivity of credit rating operations; Transparency and timeliness of ratings

are reliably and trustworthy, the Securities and Exchange Commission hereby issues the principles for undertaking business as follows: (1) honesty, fairness and integrity An intermediary shall conduct