(1) A market operator shall ensure that it, and its nomination committee, engage a broad set of qualities and competences when recruiting members to the management body and for that purpose put in place a policy promoting diversity on the management body.

(2) A market operator shall ensure that its management body -

(a) defines and oversees the implementation of the governance arrangements that ensure effective and prudent management of the organisation, including the segregation of duties in the organisation and the prevention of conflicts of interest, and in a manner that promotes the integrity of the market,

(b) monitors, and periodically assesses, the effectiveness of the market operator's governance arrangements and takes appropriate steps to address any deficiencies,

(c) has adequate access to information and documents which are needed to oversee and to monitor management decision-making.

(3) The market operator shall notify the Bank of the identity of all members of its management body and of any changes to its membership, together with all information needed to assess compliance with Regulations 66 and 67 and this Regulation.