Regulatory Alerts2022-01-01
Financial Regulatory Authority Board Decision No. 117 of 2022 Amending Decision No. 29 of 2004 on the Clearing Settlement Guarantee Fund
The Financial Regulatory Authority issued Board Decision No. 117 of 2022 to amend the capital contribution payment and completion procedures for members of the Clearing Settlement Guarantee Fund. The decision establishes strict five-day and two-day deadlines for settling increased or deducted contributions, respectively, alongside a standardized 2.5 per thousand daily late fee applied in the trading currency. It further clarifies the fund's subrogation rights, deduction mechanisms, and risk-based contribution calculations to ensure operational stability and prompt settlement of securities transactions.
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