(1) Without limiting the generality of the obligations relating to systems and controls in section 5.3 of GEN, an
Authorised Market Institution must ensure that its systems and controls are:
(a) adequate to ensure that its operations are conducted at all times in accordance with the applicable requirements, including legislation;
(b) sufficiently flexible and robust to ensure continuity and regularity in the performance of its functions relating to the operation of its facilities; and
(c) appropriate to the nature, scale and complexity of its operations.
(2) For the purposes of (1), the systems and controls of an
Authorised Market Institution must be adequate to enable it to meet the Licensing Requirements on an on-going basis. In particular, they must include adequate arrangements in relation to:
(a) the assessment and management of all risks;
(b) financial and technology resources;
(c) the fitness and propriety of its
(d) the operation of its functions;
(f) the safeguarding and administration of assets belonging to its
Members and other participants on its facilities;
(g) the transmission of information to
Members and other participants on its facilities; and
(h) the supervision and monitoring of transactions on its facilities.
Authorised Market Institution must undertake regular reviews of its systems and controls to ensure that they remain adequate and operate as intended.
Derived from RM118/2013 [VER15/07-13]