ASIC Market Integrity Rules (ASX Market) 2010 - LexisNexis

LexisNexis ASIC Market Integrity Rules (ASX Market) 2010(b)is accountable to the Market Participant for the effective design, implementation,functioning and review of the operations and processes referred to in paragraph (a).Maximum penalty: $20,0002.3.3 Annual review and representation to Market Participant(1) A Market Participant must ensure that each of its Responsible Executives:(a)(b)(c)(d)maintains the currency of his or her knowledge of these Rules, the Market OperatingRules and the Corporations Act related to the business that the Market Participantconducts in the Market;by 10 July each year, performs a review as at 30 June of that year, including all mattersreasonably considered by the Responsible Executive to be necessary in thecircumstances, of the supervision and control procedures involved in the business of theMarket Participant and other relevant documentation concerning the MarketParticipant’s compliance with these Rules and the Market Operating Rules for the 12month period ending on 30 June that year;by 10 July each year, determines whether, based on the enquiries referred to inparagraph (b), the controls over the operations and processes of the Relevant Activitieshave been, during the period referred to in paragraph (b), and continue to be, reasonablydesigned, implemented and functioning to achieve compliance by the MarketParticipant with these Rules and the Market Operating Rules;by 10 July each year, provides a signed and dated representation to the MarketParticipant as to whether:(i)(ii)the requirements of paragraphs (a) and (b) have been met for the period referred toin paragraph (b); andthe controls over the operations and processes of the Relevant Activities have been,for the period referred to in paragraph (b), and continue to be, reasonably designed,implemented and functioning to achieve compliance by the Market Participant withthe Market Operating Rules and these Rules.(2) The Market Participant must retain copies of the representation referred to at paragraph(1)(d), and of the documentation concerning the Market Participant’s compliance with theseRules and the Market Operating Rules on which the representation is based, for 7 years fromthe date the representation is provided to the Market Participant.Maximum penalty: $20,0002.3.4 Continuing education requirements for Responsible Executives(1) Subject to subrule (2), a Market Participant must ensure that, during the period from 1July each year until 30 June the following year, each of its Responsible Executives meets theCompliance Education Requirements pro-rata to the number of complete months during thatperiod in which that person is a Responsible Executive of the Market Participant.Copyright Australian Securities and Investments Commission. Reproduced with permission.