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<h1>Market Infrastructure Institutions must appoint regulator approved Executive Directors for critical and regulatory verticals and revise reporting lines.</h1> The circular mandates appointment of Executive Directors for Critical Operations and Regulatory verticals via open advertisement and regulator-approved shortlists, requires EDs to be Governing Board members with regulator-approved compensation, and establishes a revised reporting structure where EDs report to the MD while CTO, CISO, Compliance Officer and Chief Risk Officer report to their respective EDs; statutory committees retain separate quarterly access to KMPs, and the CRiO is tasked with technology audits and participation in SCOT.
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