Regulatory Alerts2008-12-30
General Decision of the Financial Markets Council No. 13 on Processing Conditions for Stock Orders and Minimum Standards for Electronic Registers
The Financial Markets Council issues General Decision No. 13 to establish mandatory processing conditions and technical security standards for stock orders transmitted via Internet or traditional channels. The regulation mandates that stockbrokers implement certified electronic signature systems, automated order verification mechanisms, and robust data retention protocols to ensure transaction integrity, client identification, and fraud prevention. Furthermore, it requires continuous system audits, secure server infrastructure, and monthly paper backups to guarantee the long-term validity and accessibility of electronic trading registers.
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