Annual system audit requirement expanded to commodity derivatives brokers, with Type I broker exemptions and exchange audit inclusion. The circular prescribes annual system audit requirements for brokers and trading members of National Commodity Derivatives Exchanges, detailing audit process, auditor selection norms, and Terms of Reference, while exempting Type I brokers from standalone audits and incorporating their provisions into the Exchanges' Annual System Audit TORs; exchanges must amend bye laws and report implementation.
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Annual system audit requirement expanded to commodity derivatives brokers, with Type I broker exemptions and exchange audit inclusion.
The circular prescribes annual system audit requirements for brokers and trading members of National Commodity Derivatives Exchanges, detailing audit process, auditor selection norms, and Terms of Reference, while exempting Type I brokers from standalone audits and incorporating their provisions into the Exchanges' Annual System Audit TORs; exchanges must amend bye laws and report implementation.
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