Regulatory Alerts2016-11-09
General Decision of the Financial Markets Council No. 22 of November 9, 2016 on Issuing Professional Cards for Persons Processing Operations with the Central Securities Depository
The Financial Markets Council issued General Decision No. 22 on November 9, 2016, to mandate that natural persons processing post-market operations with the Central Securities Depository must hold a professional card issued by the Stockbrokers Association. The decision establishes a formal aptitude examination, registration requirements, and annual reporting obligations for employing institutions, while introducing a three-year transitional exemption for existing staff who meet specific experience or educational criteria. It further defines the conditions, procedures, and timelines for card withdrawal, replacement, and record retention to ensure continuous regulatory oversight of securities processing activities.
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