TMI BlogRisk Management Policy at the DepositoriesX X X X Extracts X X X X X X X X Extracts X X X X ..... SRC) inter alia in the context of Principles for Financial Market Infrastructures(PFMI) laid down by the Committee on Payment and Settlement Systems (CPSS) and International Organization of Securities Commissions(IOSCO). 2. The FMI principles lay emphasis on the need to have a robust risk management framework to identify, monitor and manage various risks emanating from multiple sources to its o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts, inspections, system audit etc. and suggest measures to mitigate risk wherever applicable. A Chief Risk officer should be made responsible, accountable, accessible answerable to the board on overall risk management issues. 4. In view of the above, the depositories are advised to establish a clear, comprehensive and well documented risk management framework which shall include the followin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ttee which shall be headed by a Chief Risk Officer(CRO). The responsibilities of the said Committee shall include the following: a. It shall meet periodically in order to continuously identify, evaluate and assess applicable risks in depository system through various sources such as investor complaints, inspections, system audit etc.; b. It shall suggest measures to mitigate risk wherever a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the status of implementation of the provisions of this circular in the Monthly Development Report. 9. This circular is being issued in exercise of the powers conferred by Section 11 (1) of Securities and Exchange Board of India Act, 1992 and section 19 of the Depositories Act, 1996 to protect the interest of investors in securities and to promote the development of, and to regulate, the secur ..... X X X X Extracts X X X X X X X X Extracts X X X X
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