The Draft Proposed Article establishes the article’s purpose and scope, defines key terms, and identifies the persons, activities and transactions to which the draft applies. It sets out the principal obligations and compliance requirements, including duties to keep records, report specified information, implement controls and maintain specified procedures as detailed in the text.

The draft further specifies enforcement mechanisms, sanctions and remedies, oversight and reporting arrangements, transitional and commencement provisions, and interaction with existing law; it includes procedural provisions for review and any timelines set out in the document.