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The Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001

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  1. Introductory Text

  2. 1.Citation

  3. 2.Commencement

  4. 3.Interpretation

  5. 4.Recognition requirements for investment exchanges

  6. 5.Recognition requirements for clearing houses

  7. 6.Method of satisfying recognition requirements

  8. 7.Dealings and transactions not involving investments

  9. 8.Exchanges and clearing houses which do not enter into market contracts

  10. 9.Effect of recognition under the Financial Services Act 1986

  11. 10.Revocation of recognition: action taken before commencement

  12. Signature

    1. SCHEDULE

      1. PART I Recognition requirements for investment exchanges

        1. Financial resources

          1. 1.(1) The exchange must have financial resources sufficient for the...

        2. Suitability

          1. 2.(1) The exchange must be a fit and proper person...

        3. Systems and controls

          1. 3.(1) The exchange must ensure that the systems and controls...

        4. Safeguards for investors

          1. 4.(1) The exchange must ensure that business conducted by means...

        5. Disclosure by issuers of securities

          1. 5.(1) In this paragraph— “admission to trading”, “securities” and “regulated...

        6. Promotion and maintenance of standards

          1. 6.(1) The exchange must be able and willing to promote...

        7. Rules and consultation

          1. 7.(1) The exchange must ensure that appropriate procedures are adopted...

        8. Discipline

          1. 8.(1) The exchange must have effective arrangements for monitoring and...

        9. Complaints

          1. 9.(1) The exchange must have effective arrangements for the investigation...

      2. PART II Recognition requirements for investment exchanges: default rules in respect of market contracts

        1. Default rules in respect of market contracts

          1. 10.(1) The exchange must have default rules which, in the...

        2. Content of rules

          1. 11.(1) This paragraph applies as regards contracts falling within section...

          2. 12.(1) This paragraph applies as regards contracts falling within section...

        3. Notification to other parties affected

          1. 13.The exchange must have adequate arrangements for ensuring that—

        4. Cooperation with other authorities

          1. 14.The exchange must be able and willing to cooperate, by...

        5. Margin

          1. 15.(1) Where the exchange provides clearing services, the rules of...

      3. PART III Recognition requirements for clearing houses

        1. Financial resources

          1. 16.(1) The clearing house must have financial resources sufficient for...

        2. Suitability

          1. 17.(1) The clearing house must be a fit and proper...

        3. Systems and controls

          1. 18.(1) The clearing house must ensure that the systems and...

        4. Safeguards for investors

          1. 19.(1) The clearing house must ensure that its facilities are...

        5. Promotion and maintenance of standards

          1. 20.(1) The clearing house must be able and willing to...

        6. Rules

          1. 21.(1) The clearing house must ensure that appropriate procedures are...

        7. Discipline

          1. 22.(1) The clearing house must have effective arrangements for monitoring...

        8. Complaints

          1. 23.(1) The clearing house must have effective arrangements for the...

      4. PART IV Recognition requirements applying to clearing houses: default rules in respect of market contracts

        1. Default rules in respect of market contracts

          1. 24.(1) The clearing house must have default rules which, in...

        2. Content of rules

          1. 25.(1) The rules must provide— (a) for all rights and...

        3. Notification to other parties affected

          1. 26.The clearing house must have adequate arrangements for ensuring that...

        4. Cooperation with other authorities

          1. 27.The clearing house must be able and willing to cooperate,...

        5. Margin

          1. 28.(1) The rules of the clearing house must provide that...

  13. Explanatory Note

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