Market infrastructure governance requires board members and senior personnel to follow conduct standards, subject to action for breaches and conflicts.

Code of Conduct obligations apply to the governing board, directors, committee members and key management personnel of every recognised market infrastructure institution. Regulatory action may be initiated for non-compliance with the regulations or the Code of Conduct, or where a conflict of interest arises. Action may include removal or termination of appointment, following a reference or independent initiation, subject to a reasonable opportunity of being heard.

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