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SEBI and Competition Commission at Loggerheads on Jurisdiction Over Credit Ratings Agencies


SEBI and Competition Commission at Loggerheads on Jurisdiction over Credit Ratings Agencies
Moneylife Digital Team
 2
Market regulator Securities and Exchange Board of India (SEBI) and the Competition Commission of India (CCI) have come face to face over the jurisdiction of credit rating agencies (CRAs). In a recent judgement, the competition watchdog rejected SEBI s contention to entertain a plea filed by Brickwork Ratings India Pvt Ltd against other CRAs.
 
In its judgement on 29 December 2020, a bench of CCI chairman Ashok Kumar Gupta and members Sangeeta Verma and Bhagwant Singh Bishnoi, says, .the Commission notes that though regulation of CRAs may be the subject-matter domain of SEBI, examining any anti-competitive conduct on the part of CRAs falls within the jurisdiction of the Commission. ....

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