ATCS 4.2 Role of designated coordination body
1A designated coordination body may undertake a cash access assessment required by ATCS 4.1.1R for its participating designated firms.
1Where a designated coordination body has agreed to undertake cash access assessments for its participating designated firms and the requirement for a cash access assessment is triggered under ATCS 4.1.1R:
- (1)
the designated coordination body must comply with the relevant requirements in ATCS 4.1, ATCS 5 to ATCS 7, ATCS 8.1.12R and ATCS 9; and
- (2)
compliance by the designated coordination body with the requirements of the rules in ATCS 4.1 and ATCS 5 will also be treated as compliance by its participating designated firms with those rules.
1Part 8B of the Act envisages that designated firms may want to use cash access coordination arrangements (subject to compliance with any applicable legal or regulatory requirements, including competition law).
1The effect of ATCS 4.2.1R and ATCS 4.2.2R is that:
- (1)
where the requirements in ATCS 4.1 and ATCS 5 are met by the designated coordination body, they will also be treated as met by its participating designated firms, so they do not have to meet these requirements separately; and
- (2)
where any requirements in ATCS 4.1 and ATCS 5 are not met by the designated coordination body, they must still be met by its participating designated firms.
Notification of cessation of participation
- (1)
1A designated firm must give the FCA notification in writing as soon as reasonably practicable in advance of it ceasing for any reason to be a participating designated firm.
- (2)
The notification in (1) must include details of when cessation of its participation in the cash access coordination arrangements is due to take place and the reason for the cessation.