Chief legal officer appointments are mandatory for independent market infrastructure institutions and required where parental legal support is unavailable. Recognised market infrastructure institutions that are neither subsidiaries nor joint ventures must appoint a chief legal officer. Subsidiaries and joint ... Summary
Chief legal officer appointments are mandatory for independent market infrastructure institutions and required where parental legal support is unavailable.
Recognised market infrastructure institutions that are neither subsidiaries nor joint ventures must appoint a chief legal officer. Subsidiaries and joint ventures may rely on legal assistance from a parent entity, but must appoint the officer if that assistance is not provided. The Authority may require appointment by institutions beyond a specified size and scale of operations. The officer must mitigate legal risk, including by vetting bye-laws, amendments, and legal documents for proposed cross-border arrangements.
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