Market abuse deterrence mechanism required for asset managers to detect alerts, process investigations and report regulatory actions. AMCs must implement an institutional mechanism to identify and deter market abuse, including front running and fraudulent transactions, combining alert based surveillance, internal controls and escalation processes. Accountability lies with the CEO/MD (or equivalent) and Chief Compliance Officer. Procedures must provide for timely alert generation and processing, review of recorded communications, access logs and CCTV, board approved SOPs, personnel actions on suspicious activity, an escalation route to board and trustees, a documented whistle blower policy and periodic system reviews. Exchanges and depositories shall enable data sharing; AMCs must report examined alerts and actions in the Compliance Test Report and Half yearly Trustee Report.