Regulation 31 - Depository Participants - International Financial Services Centres Authority (Capital Market Intermediaries) Regulations, 2025

31. Depository Participants (1) A depository participant shall ensure compliance with the applicable laws, including bye-laws, rules and regulations specified by the recognised depository. (2) A depository participant shall ensure that separate accounts are opened in the name of each of the beneficial owners and the securities of each beneficial owner shall be segregated, and shall not be mixed up with the securities of other beneficial owners or with the participant s own securities. (3) A depository participant shall have adequate mechanisms for the purpose of reviewing, monitoring and evaluating its internal accounting controls and systems. (4) Where the records are maintained in electronic form, a depository participant shall ensure that the integrity of the data processing system is maintained at all times. (5) A depository participant shall reconcile its records with the depository, on a daily basis.