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Jul 14 2013 onwards

AMI 9.5.3 Guidance



Whole Section PDF

The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

1. Key aspects of the corporate governance framework of an Authorised Market InstitutionG encompass a range of matters. These include the composition of its Governing BodyG , any committees of the Governing BodyG , the senior management and the Persons Undertaking Key Control FunctionsG , the reporting lines between the Governing BodyG , senior management and the Persons Undertaking Key Control FunctionsG and any key policies and practices relating to the internal governance of the firm, such as codes of ethics or its remuneration practices. Significant changes relating to such arrangements and policies need to be notified to the DFSAG pursuant to Rule 9.5.3(2)(b) before making any changes.
3. Notification relating to proposed changes to corporate governance and remuneration referred to in Rule 9.5.3(2)(b) must be given sufficiently in advance of effecting the proposed change. If there are any concerns that an Authorised Market InstitutionG may not be able to meet the applicable requirements relating to corporate governance and remuneration set out in GEN Rules 5.3.30 and 5.3.31 as a result of a proposed change, the DFSAG may require the Authorised Market InstitutionG to address those concerns effectively before implementing such a change.
Derived from RM118/2013 [VER15/07-13]