Article 25. Handling confidential information, commercial and other legally protected secrets of the Law of the Republic of Kazakhstan On Credit Rating Activities
1. The credit rating agency ensures the adoption and observance of policies, procedures and internal controls to protect confidential information, commercial and other legally protected secrets obtained from the rated entity, the underwriter of the rated entity and other persons appointed by the rated entity, including from the digital systems of government agencies and credit bureaus, as well as non-public information about the action by assigning or changing the rating.
2. The adopted policies, procedures and internal controls for the protection of confidential information, commercial and other legally protected secrets or insider information should prohibit the credit rating agency and its employees from using or disclosing confidential information, commercial and other legally protected secrets or insider information for any purposes unrelated to the credit rating activities of the credit rating agency, including sharing such information with other employees, not related to the implementation of credit rating activities in relation to the rated person to whom such information relates, except in cases established by the laws of the Republic of Kazakhstan.
3. The internal procedures of a credit rating agency provide for the possibility of keeping records and documenting the list of persons who have access to information about a rating action between its adoption, publication and (or) referral to the rated person, in accordance with paragraph 3 of Article 24 of this Law.
4. The internal procedures of the credit rating agency prohibit employees from distributing information about the planned rating action, with the exception of the rated person.
5. The Credit Rating Agency takes the necessary measures to ensure information security in the financial sector, including cybersecurity, confidential information, commercial and other legally protected secrets, in accordance with the requirements established by the laws of the Republic of Kazakhstan.
6. A credit rating agency enters into an agreement with the rated person, the underwriter of the rated person or another initiator of the rating assignment to maintain confidentiality with respect to the transmitted information designated as confidential, except in cases where the requirement to disclose such information is established by the laws of the Republic of Kazakhstan.
7. The adopted policies, procedures and internal controls for the protection of confidential information, commercial and other legally protected secrets or insider information should prohibit the credit rating agency and its employees from disclosing information about the expected rating action, with the exception of the rated person, the underwriter of the rated person or other persons appointed by the rated person, and the case when the requirement for The disclosure of such information is established by the laws of the Republic of Kazakhstan.
The Law of the Republic of Kazakhstan on Credit Rating Activities
On credit rating activities, the Law of the Republic of Kazakhstan dated July 23, 2026 No. 351-VIII SAM.
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Republic of Kazakhstan
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