Division 3

Credit rating agencies shall ensure that persons referred to in point 1:

1. (a)

   take all reasonable measures to protect property and records in possession of the credit rating agency from fraud, theft or misuse, taking into account the nature, scale and complexity of their business and the nature and range of their credit rating activities;

2. (b)

   F1do not disclose any information about credit ratings, possible future credit ratings or rating outlooks of the credit rating agency, except to the rated entity or a related third party;

3. (c)

   do not share confidential information entrusted to the credit rating agency with rating analysts and employees of any person directly or indirectly linked to it by control, as well as with any other natural person whose services are placed at the disposal or under the control of any person directly or indirectly linked to it by control, X1and who is not directly involved in the credit rating activities; and

4. (d)

   do not use or share confidential information for the purpose of trading financial instruments, or for any other purpose except the conduct of the credit rating activities.