New fin coy rules require education
As part of the rules, companies , such as finance companies, building societies and credit unions, that take deposits from the public will need to obtain and publicly disclose a credit rating.
Such companies, known as non-bank deposit takers (NBDT), are a growing part of the financial sector.
With that growth has come concerns that inexperienced investors may not be adequately aware of the risk profile of their investment.
Today S&P said credible international credit ratings on NBDTs would help financial advisers, planners, and investors to better understand the risks in the non-bank financial institutions sector.
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