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CSD-3.2.4

Where user information is disclosed under Subparagraphs CSD-3.2.3 (g), (h) or (i), the licensed clearing house or licensed central depository shall:

(a) Maintain a record of:
(i) The circumstances relating to the disclosure of user information referred to in that sub-paragraph; and
(ii) In the case of disclosure of information, the particulars of:
A. The arrangement for protection;
B. The arrangement for transfer;
C. The outsourcing of the function of the licensed clearing house or licensed central depository;
D. The engagement of the third party; and
E. The appointment or engagement of an auditor, a lawyer, a consultant or other professional by the licensed clearing house or licensed central depository under a contract for service, and make the record available for inspection by the CBB.
(b) Disclose the user information insofar as this is necessary for the relevant purpose; and
(c) Take reasonable steps to ensure that user information disclosed is used by the person to whom the disclosure is made strictly for the relevant purpose, and that the user information is not disclosed by that person to any other person except with the consent of the licensed clearing house or licensed central depository.
Amended: April 2016