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  • CSD-1.6 CSD-1.6 Establishment of a Clearing House and Central Depository as an SRO

    • CSD-1.6.1

      A licensed clearing house or licensed central depository shall be established as self-regulatory organisations (SROs) and must comply with the requirements laid down under the CBB Law, this Module, its approved business rules and the other applicable laws, rules and regulations.

      Amended: April 2016

    • CSD-1.6.2

      As an SRO, the objectives and functions of the licensed clearing house and licensed central depository will be to:

      (a) Promote fairness and investor protection;
      (b) Provide for admission, regulation, supervision and expulsion of participation or membership;
      (c) Promote fair access to its facilities and information;
      (d) Promote the provision of timely and accessible relevant data;
      (e) Treat all its members, depository participants, users and investors in a fair and transparent manner;
      (f) Promptly inform the CBB of any violations of the provision of this Module or any relevant act, laws or regulations by its members, depository participants, users or investors;
      (g) Act in good faith and avoid conflict of interest in the conduct of its functions;
      (h) Comply with the norms of corporate governance, as provided under Module HC (High-level Controls (Corporate Governance)); and
      (i) Provide adequate supervision and regulation over its members.
      Amended: April 2016