PART 5Securitisation repositories
Registration of a securitisation repositoryI114
1
A body corporate may apply to the FCA for registration under this regulation as a securitisation repository by means of which originators, sponsors or securitisation special purpose entities make information available in accordance with FCA securitisation rules or PRA securitisation rules.
2
A trade repository may submit an application for an extension of registration to the FCA with a view to its registration as a securitisation repository.
3
To be eligible to be registered under this regulation, a body corporate must—
a
be established in the United Kingdom,
b
apply procedures to verify the completeness and consistency of the information made available to it under FCA or PRA securitisation rules, and
c
meet the requirements provided for in Articles 78, 79 and 80(1) to (3), (5) and (6) of EMIR33.
4
For the purposes of this Part, Articles 78, 79 and 80 of EMIR have effect in relation to a securitisation repository as they have effect in relation to a trade repository, but as if—
a
any reference to EMIR were a reference to this Part, and
b
the reference in Articles 78 and 80 to Article 9 of EMIR were a reference to FCA securitisation rules.
5
In this regulation—
“FCA securitisation rules” means—
- a
designated activity rules made by virtue of regulation 5, and
- b
rules made by the FCA under section 137A of FSMA 2000 in relation to securitisation;
- a
“PRA securitisation rules” means rules made by the PRA under section 137G of FSMA 2000 in relation to securitisation;
“trade repository” means a person who centrally collects and maintains records of derivatives and who is registered by the FCA as such under EMIR.