Code of Conduct requires depositories and participants to maintain governance, risk controls and investor protection obligations. The code requires participants and depositories to protect investor interests through integrity, prompt service, confidentiality, accurate recordkeeping, maker-checker controls, business continuity measures and timely grievance redressal; to avoid unfair competition and misuse of position; and to notify the Board of material legal or regulatory actions. Governing boards must oversee strategy, resources, technology, compliance and risk via a three-lines-of-defence and an approved risk appetite with metrics. Directors, committee members and key management personnel must disclose beneficial interests and securities dealings, avoid conflicts of interest, and maintain confidentiality and professional standards.