Internal audit requirement for brokers mandates independent practicing auditors and obliges exchanges to amend rules and report compliance. Stock brokers, trading members and clearing members must carry out a complete internal audit on a half yearly basis by practicing chartered accountants, company secretaries or cost and management accountants without conflicts of interest. Stock exchanges are required to amend bye laws and rules for implementation, notify members and publish the provisions on their websites, and communicate implementation status to the regulator in the Monthly Development Report; other earlier provisions remain unchanged.
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Provisions expressly mentioned in the judgment/order text.
Internal audit requirement for brokers mandates independent practicing auditors and obliges exchanges to amend rules and report compliance.
Stock brokers, trading members and clearing members must carry out a complete internal audit on a half yearly basis by practicing chartered accountants, company secretaries or cost and management accountants without conflicts of interest. Stock exchanges are required to amend bye laws and rules for implementation, notify members and publish the provisions on their websites, and communicate implementation status to the regulator in the Monthly Development Report; other earlier provisions remain unchanged.
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