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  • Licensed Exchanges, Clearing Houses and Central Depositories

    • MIE-3.6.6

      As an SRO, the licensed exchanges, clearing houses and depositories are required to:

      a) Actively perform market surveillance as a front-line regulator;
      b) Take disciplinary action for contraventions by members and listed companies/issuers through the SRO's Disciplinary Action Committee;
      c) Identify potential cases of unlawful transactions and take preventative actions;
      d) Report suspected cases of market abuse and manipulation to the CBB;
      e) Implement enforcement actions determined by the CBB.

      When an SRO contravenes the provisions of the CBB Law, rules and regulations, as CBB licensees, the enforcement action applicable to all other capital market service providers of the CBB will also be applicable to the licensed exchanges, clearing houses and central depositories. In addition to these enforcement actions, these SROs will be subject to other enforcement actions stated in the Markets & Exchanges Module and the Clearing, Settlement & Central Depository Module. Such enforcement measures include:

      a) Cancellation or amendment of license;
      b) [This Subparagraph has been deleted in July 2021];
      c) Removal of officers from his office or employment;
      d) Financial penalties as per Article 129 of the CBB Law.
      Amended: July 2021