Fit and proper governance requires market infrastructure institutions to maintain integrity standards and prevent disqualified directors, managers, and shareholders.

Recognised market infrastructure institutions must continuously ensure that directors, key management personnel and shareholders are fit and proper persons. Listed institutions share responsibility with acquirers for shareholders holding five per cent or more, while acquirers alone bear responsibility for lower shareholdings. Fitness requires integrity, financial integrity, good character and honesty, and excludes persons affected by specified criminal convictions, regulatory recovery proceedings, insolvency, financial unsoundness, wilful default, fugitive economic offender status, or relevant regulatory restraints and orders.

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