| (2) | A licensed trade repository must— |
| (a) | employ timely, efficient and accurate record keeping procedures; |
| (b) | make information prescribed by the Authority in joint standards made with the concurrence of the South African Reserve Bank available to the Authority, the Prudential Authority, the South African Reserve Bank, other relevant supervisory authorities and other persons, subject to the requirements prescribed by the Authority in joint standards made with the concurrence of the South African Reserve Bank under section 58 as to the manner, form, and frequency of disclosure; |
[Section 57(2)(b) substituted by section 290, item 39(a) of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]
| (c) | monitor and evaluate the adequacy and effectiveness of its systems, internal control mechanisms and arrangements and take appropriate measures to address any deficiencies; |
| (d) | publicly disclose the prices and fees associated with services provided, which disclosure must give the specific monetary amount for each service rendered; or if such amount is not pre-determinable, the basis of the calculation; |
| (e) | ensure the confidentiality, integrity and protection of the information received; |
| (f) | provide the Authority with any information requested to monitor and mitigate systemic risk; and |
| (g) | must notify the Authority as soon as it commences an insolvency proceeding or an insolvency proceeding is commenced against it. |
| (3) | Joint standards may prescribe duties additional to those referred to in subsection (2). |
[Section 57(3) substituted by section 290, item 39(b) of Schedule 4, of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), Notice No. 853, GG 41060, dated 22 August 2017 - effective 9 February 2018 (Notice R. 99, GG 41433, dated 9 February 2018)]
