Regulations Governing the Administration of Credit Rating Agencies Article 23
The directors, supervisor(s), members of the ratings committee, managerial officers, mandataries, or employees of a credit rating agency may not engage in any of the following acts:1.Utilizing information obtained in the course of official duties to directly or indirectly engage in the trading of securities or other financial instruments.2.Disclosing trade secrets obtained in the course of official duties, except in response to a lawfully conducted inquiry.3.Issuing any credit rating report or information which lacks an analytical basis or reasonable grounds, and which would be likely to affect market order or harm the public interest.4.Participating in the process of design or providing related recommendations regarding the rated instruments.5.Soliciting, agreeing to accept, or accepting improper benefits from the rated entity or from the issuer, originator, arranger, or underwriter of the rated instrument.6.Other acts in violation of laws and regulations.Personnel referred to in the preceding paragraph who participated in the credit rating process, or who have the authority to decide credit rating results, or to approve methodologies in connection with credit ratings, may not participate in the discussion, negotiation, or arrangement of rating fees.
中文原文 信用評等事業管理規則第23條
信用評等事業之董事、監察人、評等委員會成員、經理人、受任人或受雇人，不得有下列行為：
一、以職務上所知悉之消息，直接或間接從事買賣有價證券或其他金融商品之交易活動。
二、非應依法令所為之查詢，洩漏職務上所獲悉之秘密。
三、發布無分析基礎或無合理根據之言論或資訊，足以影響市場秩序或有損害公益之虞。
四、參與受評等標的之設計及建議。
五、要求期約或收受來自受評等機構或受評等標的之發行機構、創始機構、安排機構或證券承銷商之不正利益。
六、其他違反法令之情事。
前項人員參與評等程序或具有決定信用評等等級、核決信用評等方法論權限者，不得參加評等費用討論、協商及安排。
一、以職務上所知悉之消息，直接或間接從事買賣有價證券或其他金融商品之交易活動。
二、非應依法令所為之查詢，洩漏職務上所獲悉之秘密。
三、發布無分析基礎或無合理根據之言論或資訊，足以影響市場秩序或有損害公益之虞。
四、參與受評等標的之設計及建議。
五、要求期約或收受來自受評等機構或受評等標的之發行機構、創始機構、安排機構或證券承銷商之不正利益。
六、其他違反法令之情事。
前項人員參與評等程序或具有決定信用評等等級、核決信用評等方法論權限者，不得參加評等費用討論、協商及安排。