Fit and proper governance requires market infrastructure institutions to maintain integrity, solvency, and regulatory compliance among key persons. Recognised market infrastructure institutions must continuously ensure that directors, key management personnel and shareholders are fit and proper. ... Summary
Fit and proper governance requires market infrastructure institutions to maintain integrity, solvency, and regulatory compliance among key persons.
Recognised market infrastructure institutions must continuously ensure that directors, key management personnel and shareholders are fit and proper. Fitness requires fairness, integrity, financial integrity, good character and honesty, and absence of prescribed disqualifications, including relevant convictions, pending regulatory recovery proceedings, insolvency, financial unsoundness, wilful default, regulatory restraints, and securities-market-related orders. Listed institutions and acquirers share responsibility for shareholder fitness where the acquired holding reaches the prescribed threshold.
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