MAM-A.4.1

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While dealing with cases relating to market abuse and manipulation, a clear division of responsibilities between CBB as the securities regulator and the licensed exchanges or the licensed market operators or licensed clearing houses or depositories as a self regulatory organisation (SRO) is required:

(a) To maximise the regulatory effectiveness;

(b) To permit flexibility to the licensed exchanges or the licensed market operators in their functioning

(c) To achieve greater efficiency and transparancy in the enforcement of the laws, rules and regulations;

(d) To minimise the regulatory cost; and

(e) To maintain market integrity and investor confidence.

November 2010