Fit and proper person requirement added to depository participant eligibility, making applicant suitability a formal condition for registration. Addition of a fit and proper person requirement as an explicit eligibility criterion in the Depositories and Participants regulations, inserting new clauses in regulation 6 and regulation 19 so that applicants must satisfy a suitability standard of integrity, competence and reliability as a predicate to registration.
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Provisions expressly mentioned in the judgment/order text.
Fit and proper person requirement added to depository participant eligibility, making applicant suitability a formal condition for registration.
Addition of a fit and proper person requirement as an explicit eligibility criterion in the Depositories and Participants regulations, inserting new clauses in regulation 6 and regulation 19 so that applicants must satisfy a suitability standard of integrity, competence and reliability as a predicate to registration.
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