Regulatory Alerts2010-12-01
Regulation of the Head of the Commodity Futures Trading Regulatory Agency Number 14/BAPPEBTI/PER-SRG/12/2010
The Head of the Commodity Futures Trading Regulatory Agency issued this regulation to define licensing types, standard operating procedures, and service levels for Warehouse Receipt Systems. The document establishes four specific approval categories: warehouse operators, warehouses, conformity assessment institutions, and registration centers. It mandates processing timelines of 32 working days for operators, warehouses, and registration centers, and 20 working days for conformity assessment institutions.
Regulation of the Head of the Commodity Futures Trading Regulatory Agency Number: 14/BAPPEBTI/PER-SRG/12/2010 2
DECIDES:
To establish: A REGULATION OF THE HEAD OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY CONCERNING TYPES OF LICENSING IN THE FIELD OF WAREHOUSE RECEIPT SYSTEMS, STANDARD OPERATING PROCEDURES (STANDARD OPERATING PROCEDURE), AND SERVICE LEVEL ARRANGEMENT.
Article 1 The types of licensing in the field of Warehouse Receipt Systems granted by the Commodity Futures Trading Regulatory Agency are as follows: a. approval as a Warehouse Operator in the Warehouse Receipt System; b. approval as a Warehouse in the Warehouse Receipt System; c. approval as a Conformity Assessment Institution in the Warehouse Receipt System; and d. approval as a Registration Center in the Warehouse Receipt System.
Article 2 The Standard Operating Procedures for licensing services in the field of Warehouse Receipt Systems as referred to in Article 1 are as attached to this Regulation of the Head of the Commodity Futures Trading Regulatory Agency.
Article 3 The processing period for Approvals as referred to in Article 1 is: a. approval as a Warehouse Operator in the Warehouse Receipt System, at most 32 (thirty-two) working days; b. approval as a Warehouse in the Warehouse Receipt System, at most 32 (thirty-two) working days; c. approval as a Conformity Assessment Institution in the Warehouse Receipt System, at most 20 (twenty) working days; and d. approval as a Registration Center in the Warehouse Receipt System, at most 32 (thirty-two) working days.