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TMI BlogCode of Conduct & Institutional mechanism for prevention of Fraud or Market AbuseX X X X Extracts X X X X X X X X Extracts X X X X ..... ding) Regulations, 2015 (herein after referred as PIT Regulations ). 2. Based on the above, it has been decided that the Code of Conduct and Institutional Mechanism for prevention of fraud or market abuse shall be applicable to Stock Exchanges, Clearing Corporations and Depositories (herein after collectively referred as MIIs ) also, on the lines of Regulation 9(1) to 9(4) of PIT Regulations. 3. Accordingly, MIIs shall do the following: 3.1. Formulate a Code of Conduct to regulate, monitor and report trading by their designated persons and immediate relative of designated persons towards achieving compliance with the PIT Regulations, by adopting the minimum standards set out in Schedule C to the PIT Regulations. 3.2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to prevent fraud or market abuse by MII or its designated persons and immediate relatives of designated persons. 4.2. The Board of Directors of the MII shall ensure that the MD / CEO ensures compliance with Para 3 and Para 4.1 above. The compliance officer of the respective MII shall administer the internal controls to prevent fraud or market abuse by designated persons and immediate relatives of designated persons of the MII. 4.3. The Regulatory Oversight Committee of the MII shall review compliance with the provisions of this Circular at least once in a financial year and shall also verify that the systems for internal control are adequate and are operating effectively. 4.4. MII shall formulate written policies and procedures for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t not defined in this Circular shall have the same meanings as may be defined in Securities Contracts (Regulation) Act, 1956 or the Securities and Exchange Board of India Act, 1992 or the Depositories Act, 1996 or Regulations made thereunder i.e. Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 , SEBI (Depositories and Participants) Regulations, 2018 , PIT Regulations , SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 , unless the context requires otherwise. 6. MIIs are directed to: 6.1. take necessary steps to put in place systems for implementation of the circular, including necessary amendments to the relevant bye-law ..... X X X X Extracts X X X X X X X X Extracts X X X X
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