A clearinghouseshall strengthen internal constraints and closely supervise the conduct of personnel with respect to the handling of the record of dishonored checks due to insufficient funds and other credit history information.

Where a clearing entity’s violation of these Regulations or [other] negotiable instrument clearing rules and regulations is of serious nature and might seriously undermine the clearing operations, a clearinghouse may, with approval of its board of directors, temporarily suspend such entity’s clearing operations and report the same to the Bank for record. The Bank in turn will forward the information to the Financial Supervisory Commission.

A clearinghouse shall submit scheduled or unscheduled business, financialor other relevant reports as prescribed or notified by the Bank; the Bank may assign an officer to examine the business, finance or other matters of a clearinghouse.

These Regulations shall take effect on February 1, 2019.