Regulatory Alerts2025-12-01
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Implementation of Corporate Governance for Stock Exchanges, Clearing and Guarantee Institutions, and Custody and Settlement Institutions
Financial Services Authority Regulation No. 31 of 2025 mandates Stock Exchanges, Clearing and Guarantee Institutions, and Custody and Settlement Institutions to implement corporate governance principles including openness, accountability, responsibility, independence, and fairness across all organizational levels. The regulation establishes strict eligibility criteria for Directors and Commissioners, requiring administrative, integrity, and competency standards, and imposes specific operational duties such as regular board meetings, integrated risk management, and transparency disclosures. Non-compliance with these governance requirements triggers administrative sanctions ranging from written warnings and fines to the revocation of business licenses.
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