1988-06-01
18:24 G.I.S
1
14
P.08/13
(4) Finally,
independent
but
most
important
detached
well paid and qualified staff in
the exchanges are essential to ensure the
integrity of the self-regulatory system.
Applying these precepts we summarise our main
recommendations in para. 1.9 of the report :-
(1) We propose
"a
fundamental revision of the
internal constitution of both the Exchanges;
in
particular, in the case of the Stock
Exchange,
thera
should
be
Proper
representation on the governing body for
individual and corporate members, combined
with an independent element to ensure that
the Exchange is
properly governed and works
in
the interests
2
We
of all members and users."
recommend a Council of 22: 16 brokers of
which 4 must be corporate
individual; 5 independent
the Chief Executive.
members and
non-brokers; and
More details are get
out in Chapter IV for the Stock Exchange and
in the latter half of Chapter VI for the
Futures Exchange.