VIS reaffirms broker management rating of Next Capital Ltd.

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MG News | February 26, 2019 at 12:58 PM GMT+05:00

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February 26, 2019: VIS Credit Rating Company Limited has reaffirmed the Broker Management Rating of Next Capital Limited at `BMR2++'. The outlook on the assigned rating is stable.

The previous rating action was announced on February 23, 2018. The rating signifies strong external controls, sound regulatory compliance levels, internal control framework, HR and IT services and risk management along with adequate client relationship and financial management, said press release on Tuesday.

Rating reaffirmation factors in NCL's sound corporate and board level governance supported by requisite committees. However, inclusion of board members in existing risk committee would enhance the company's risk governance framework.

Internal control environment is considered effective with sufficient and well-defined policies. Conflict of interest policy may be shared with customers as well in order to strengthen controls. Minimum holding period, blackout period and the requisite of prior approval for trading from compliance may be specified in employee trading guidelines to enhance the control environment.

(APP)

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