Regulatory Alerts2023-07-31
FMI Standard 11: Central Securities Depositories
The Reserve Bank of New Zealand and the Financial Markets Authority jointly issued FMI Standard 11 to regulate operators of designated central securities depositories under the Financial Market Infrastructures Act 2021. The standard mandates that operators implement robust rules, policies, and internal systems to ensure securities integrity, safeguard participant rights, and manage custody, operational, and general business risks. Key requirements include daily reconciliation, prohibition of overdrafts, immobilization of securities, strict asset segregation, and effective management of risks from other performed activities.
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