Government of pakistan securities and exchange commission of pakistan notification

(b)
Reputation and Past Record
A person as a rating analyst shall not be considered Fit and Proper if he:  
(i) 
has been convicted of an offence involving moral turpitude;
(ii) 
convicted in any criminal offence or directly involved in any settlement in civil/
criminal proceedings in any court, particularly with regard to investments, business 
misconduct, fraud/ forgery, breach of trust and financial crime etc
(iii) 
has been the subject to adverse findings, after conducting an inquiry, by the 
Commission or any other regulatory or professional body or government agency;
(iv) 
disqualified/removed from any organization
(v) 
no investigation or enquiry is under process in the Commission or in any other 
regulatory authority against the person
(c)
Financial Integrity
In determining an analyst’s financial integrity, the following shall be considered:
(i) 
whether the person has been declared by a court of competent jurisdiction as 
defaulter in repayment of loan to a financial institution exceeding Rupees five 
hundred thousand;
74
Inserted vide S.R.O 582(I)/2020 dated June 29, 2020.
75
Deleted the text “investment in corporate bonds” vide S.R.O. No.1223(I)/2019 dated October 10, 2019
76
Substituted for the word “and” vide S.R.O. No.1223(I)/2019 dated October 10, 2019

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(ii) 
whether the latest Credit Information Bureau report of the person shows overdue 
payments or default to a financial institution;
(iii) 
whether the person has applied to be adjudicated as an insolvent and his application 
is pending;
(iv) 
whether the person is an un-discharged insolvent; and
(v) 
whether the person has been declared a defaulter by a stock exchange.