Appointment of a compliance adviser
The Regulator may require a Reporting Entity to:(1) appoint a compliance adviser; or(2) replace a compliance adviser al appointed.
MKT 5.2.3(1) A Reporting Entity required to appoint a compliance adviser must, prior to making the appointment:(a) take reasonable steps to ensure that the proposed compliance adviser has the required knowledge, experience, qualifications and resources to carry out its obligations under these Rules;(b) notify the Regulator of the proposed compliance adviser's name and business address; and(c) take reasonable steps to ensure that the proposed compliance adviser and its relevant Employees are independent and that any conflicts of interest are appropriately managed.(2) If requested by the Regulator, a Reporting Entity appointing a compliance adviser must provide the Regulator with such information as it may require including information regarding knowledge, experience, qualifications and resources of the compliance adviser.(3) A Reporting Entity must notify the Regulator if it becomes aware, or has reason to believe, that the compliance adviser or its relevant Employees have a conflict of interest which has not been appropriately managed.
MKT 5.2.4(1) The Regulator may, by written notice, require a Reporting Entity to appoint a compliance adviser for a specified period to assist the Reporting Entity in meeting its continuing obligations under the Markets Regulations and these Rules.(2) A Reporting Entity that is required to appoint a compliance adviser in accordance with the requirements in this section must ensure that a compliance adviser continues to fulfil the role of compliance adviser until such time as the Regulator advises the Reporting Entity in writing that a compliance adviser is no longer required.