Annex E
(h) the day-to-day accountability
is inadequately defined;
of the SEC
(i) the Chairman of the SFC should not be
given absolute power
there should be
adequate checks and balances;
(j) an independent SFC would facilitate the
recruitment of competent staff;
(k) the Exchanges and clearing houses should
be represented on the AC; and
(1) the replacement of the SC, CTC and OCS with an independent SFC would have implications on other regulatory bodies inside the civil service.
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