Methodology
How the desk decides what it can say
RCA is an intelligence publication, not a ratings agency and not a law firm. The method is public so that a score, a status label, or a finding can be audited against the same rules we used to write it.
What this proves
A repeatable public-source method can distinguish a complete issuer file from a product page.
What it does not prove
That completing the method produces a legal opinion, a credit rating, or an RCA approval.
Transparency Index fields
Four labels only: limited, fragmented, developing, strong. The numeric score is a weighted coverage of these eight public fields. Issuers cannot buy a higher score.
- Entity
- Legal name, number, formation jurisdiction, LEI where held.
- Control
- Directors and beneficial ownership to the public standard of the home regime.
- Rights
- What the instrument legally confers — and explicitly does not.
- Valuation / reserves
- Methodology, as-of date, named legal person covered.
- Custody
- Custodian, cash agent, administrator as publicly named.
- Transfer
- Eligibility, transfer-agent gates, offering perimeter.
- Contract admin
- Pause, upgrade, freeze — and who holds the role.
- Disclosure history
- What was published, when, and what was corrected.