Market Infrastructure Institutions must appoint regulator approved Executive Directors for critical and regulatory verticals and revise reporting lines. 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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Provisions expressly mentioned in the judgment/order text.
Market Infrastructure Institutions must appoint regulator approved Executive Directors for critical and regulatory verticals and revise reporting lines.
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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