GENERAL OBLIGATIONS OF A RECOGNISED STOCK EXCHANGE AND A RECOGNISED CLEARING CORPORATIONInternational Financial Services Centres Authority (Market Infrastructure Institutions) Regulations, 2021
GENERAL OBLIGATIONS OF A RECOGNISED STOCK EXCHANGE AND A RECOGNISED CLEARING CORPORATIONInternational Financial Services Centres Authority (Market Infrastructure Institutions) Regulations, 2021
Functional segregation requires market infrastructure institutions to ring-fence regulatory, legal, compliance, risk management and investor-grievance functions.
Every recognised market infrastructure institution must identify and allocate core and critical functions among critical operations; regulatory, legal, compliance, risk-management and investor-grievance functions; and other functions, including business development. Schedule II sets out the functions allocated to each vertical. Functions and personnel within the regulatory, legal, compliance, risk-management and investor-grievance vertical must be ring-fenced from critical operations and other functions.
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