Regulatory Alerts2012-07-01
Regulation of the Head of the Commodity Futures Trading Regulatory Agency Number 15 of 2012 on Requirements and Procedures for Obtaining Approval as a Warehouse Operator
The Head of the Commodity Futures Trading Regulatory Agency (Bappebti) issued Regulation No. 15 of 2012 to establish the specific requirements and procedures for entities to obtain approval as a Warehouse Operator under the Warehouse Receipt System. The regulation mandates that applicants must meet strict capital, integrity, and operational competency standards, with distinct thresholds for limited liability companies and cooperatives, while also outlining the documentation and timelines for initial approval and subsequent changes. It further defines the necessary professional competencies for warehouse personnel and details the administrative processes for reporting changes in management, ownership, or authorized signatories to ensure regulatory compliance.