Financial Markets Act, 2012 (Act No. 19 of 2012)

Regulations

Financial Markets Act Regulations

Chapter VI : Central Counterparties

42. Record keeping

42.4 Business records

Purchase

A central counterparty must maintain adequate and orderly records of activities related to its business and internal organisation, which records must include—

(a)	the organisational charts for the controlling body and relevant committees, clearing unit, risk management unit, and all other relevant units or divisions;

(b)	the identities of the shareholders or members, whether direct or indirect, natural or legal persons, that have qualifying holdings and the amounts of those holdings;

(c)	the minutes of meetings of the controlling body and, if applicable, of meetings of subcommittees and of senior management committees;

(d)	the minutes of meetings of the risk committee;

(e)	the minutes of consultation groups with clearing members and clients, if any;

(f)	internal and external audit reports, risk management reports, compliance reports, and reports by consultant companies, including management responses;

(g)	the business continuity policy and disaster recovery plan;

(h)	the liquidity plan and the daily liquidity reports;

(i)	records reflecting all assets and liabilities and capital accounts;

(j)

complaints received, with information on the complainant’s name, address, and account number; the date the complaint was received; the name of all persons identified in the complaint; a description of the nature of the complaint; the disposition of the complaint, and the date the complaint was resolved;

(k)	records of any interruption of functions and services or dysfunction, including a detailed report on the timing, effects and remedial actions;

(l)	records of the results of the back and stress tests performed;

(m)	written communications with the Authority and other supervisory authorities;

(n)	legal opinions received;

(o)	where applicable, documentation regarding interoperability arrangements with other central counterparties; and

(p)	the relevant documents describing the development of new business initiatives;