System audit obligations for stock brokers require adherence to a revised framework and quarterly reporting of major non compliances. Revised system audit framework for stock brokers requires audits according to prescribed guidelines (process, auditor selection, TOR). Stock exchanges must ensure implementation, track broker wise audit findings quarterly, ensure timely rectification of major critical findings, and report major non compliances to the regulator quarterly. Brokers already underway may follow prior exchange framework for the current year; others must adopt this framework. Exchanges must implement systems, amend bye laws where necessary, notify trading members and publish the provisions.
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System audit obligations for stock brokers require adherence to a revised framework and quarterly reporting of major non compliances.
Revised system audit framework for stock brokers requires audits according to prescribed guidelines (process, auditor selection, TOR). Stock exchanges must ensure implementation, track broker wise audit findings quarterly, ensure timely rectification of major critical findings, and report major non compliances to the regulator quarterly. Brokers already underway may follow prior exchange framework for the current year; others must adopt this framework. Exchanges must implement systems, amend bye laws where necessary, notify trading members and publish the provisions.
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