“mutual fund rating entity” means an entity
(a) that rates or ranks the performance of mutual funds or asset allocation services through an objective methodology that is
(i) based on quantitative performance measurements,
(ii) applied consistently to all mutual funds or asset allocation services rated or ranked by it, and
(iii) disclosed on the entity’s website,
(b) that is not a member of the organization of any mutual fund, and
(c) whose services to assign a rating or ranking to any mutual fund or asset allocation service are not procured by the promoter, manager, portfolio adviser, principal distributor or participating dealer of any mutual fund or asset allocation service, or any of their affiliates;