Securities and Futures (Financial Benchmarks) Regulations 2018 · As enacted · Part 2 · Benchmark Administrators of Designated Benchmarks
15. Approval of chief executive officer or director of authorised benchmark administrator
Feedback & supportAn application for approval of the Authority under section 123X(1) of the Act must be submitted in Form 3.
For the purposes of section 123X(4) of the Act, the Authority may, in determining whether to grant its approval under section 123X(1) of the Act, have regard to the following criteria:
whether the person, in relation to whom the application for approval under section 123X(1) of the Act is made, is a fit and proper person to be appointed as chief executive officer or director of the authorised benchmark administrator;
whether the appointment of the person, in relation to whom the application for approval under section 123X(1) of the Act is made, would be inconsistent with any written law.
Subregulation 1
An application for approval of the Authority under section 123X(1) of the Act must be submitted in Form 3.
Subregulation 2
For the purposes of section 123X(4) of the Act, the Authority may, in determining whether to grant its approval under section 123X(1) of the Act, have regard to the following criteria:
whether the person, in relation to whom the application for approval under section 123X(1) of the Act is made, is a fit and proper person to be appointed as chief executive officer or director of the authorised benchmark administrator;
whether the appointment of the person, in relation to whom the application for approval under section 123X(1) of the Act is made, would be inconsistent with any written law.