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AMI 5.10.3

An Authorised Market Institution must not appoint any Person as a third party custodian unless that Person:

(a) is appropriately authorised under its Licence or subject to regulation and supervision by a Financial Services Regulator acceptable to the DFSA for the activity of deposit taking or providing custody and depository services; and
(b) is prohibited from appointing sub-custodians except where the subcustodians meet the requirements in (a).
Derived from RM118/2013 [VER15/07-13]