Statutory committee composition rules for market infrastructure institutions strengthened to require public interest directors majority and PID-led chairs. Revised governance requires MIIs to maintain specified statutory committees (MC, NRC, SCOT, ROC, RMC, IC) with Chairs as Public Interest Directors (PIDs), PIDs at least equalling other members in number (SCOT excluding IEPs), and voting validated only when PIDs who vote are not fewer than other members voting. Core TORs are non delegable; MC may delegate certain operational tasks to Internal Committees under defined SOPs while retaining accountability. Committees must adopt SOPs, manage sector specific oversight (technology, risk, surveillance, member admission, regulatory enforcement, investments), and ensure independent IEPs and required PID availability.
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Statutory committee composition rules for market infrastructure institutions strengthened to require public interest directors majority and PID-led chairs.
Revised governance requires MIIs to maintain specified statutory committees (MC, NRC, SCOT, ROC, RMC, IC) with Chairs as Public Interest Directors (PIDs), PIDs at least equalling other members in number (SCOT excluding IEPs), and voting validated only when PIDs who vote are not fewer than other members voting. Core TORs are non delegable; MC may delegate certain operational tasks to Internal Committees under defined SOPs while retaining accountability. Committees must adopt SOPs, manage sector specific oversight (technology, risk, surveillance, member admission, regulatory enforcement, investments), and ensure independent IEPs and required PID availability.
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