Modifications etc. (not altering text)
C1Sch. Pts. 3, 4 applied (with modifications) (26.8.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (No. 2) Regulations 2013 (S.I. 2013/1908), regs. 1(3)(c), 6(2)-(4)
19.—(1) The clearing house must ensure that its facilities are such as to afford proper protection to investors.U.K.
(2) Without prejudice to the generality of sub-paragraph (1), the clearing house must ensure that—
(a)access to the clearing house’s facilities is subject to criteria designed to protect the orderly functioning of those facilities and the interests of investors;
(b)its clearing services involve satisfactory arrangements for securing the timely discharge (whether by performance, compromise or otherwise) of the rights and liabilities of the parties to transactions in respect of which it provides such services (being rights and liabilities in relation to those transactions);
(c)satisfactory arrangements are made for recording transactions which are cleared or to be cleared by means of its facilities;
(d)appropriate measures are adopted to reduce the extent to which the clearing house’s facilities can be used for a purpose connected with market abuse or financial crime, and to facilitate their detection and monitor their incidence; and
(e)where the clearing house’s facilities include making provision for the safeguarding and administration of assets belonging to users of those facilities, satisfactory arrangements are made for that purpose.
Commencement Information
I1Sch. para. 19 in force at 1.12.2001, see reg. 2