Penalty for unfair conduct by depositories: monetary sanctions for non-compliance with rules, regulations or directions. A new provision creates a penalty for failure to conduct business in a fair manner by a depository in dealings with participants, issuers or other ... Summary
Penalty for unfair conduct by depositories: monetary sanctions for non-compliance with rules, regulations or directions.
A new provision creates a penalty for failure to conduct business in a fair manner by a depository in dealings with participants, issuers or other market-related persons, where such conduct contravenes rules, regulations made by the Board or directions issued by the Board; liability is expressed as a prescribed minimum and maximum monetary penalty with an alternative calculation based on gains realised from the failure, applying whichever is higher.
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