Related provisions for REC 2.14.1

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REC 2.5.1UKRP

Schedule to the Recognition Requirements Regulations, paragraph 3

(1)

The [UK RIE] must ensure that the systems and controls used in the performance of its [relevant functions] are adequate, and appropriate for the scale and nature of its business.

(2)

Sub-paragraph (1) applies in particular to systems and controls concerning -

(a)

the transmission of information;

(b)

the assessment and management of risks to the performance of the [UK RIE'srelevant functions];

(c)

the effecting and monitoring of transactions on the [UK RIE];

(d)

the operation of the arrangements mentioned in paragraph 4(2)(d); and

(e)

(where relevant) the safeguarding and administration of assets belonging to users of the [UK RIE's] facilities.1
REC 2.1.4GRP

Location of recognition requirements and guidance

Recognition Requirements Regulations

Subject

Section in REC 2

Regulation 6

Method of satisfying recognition requirements

2.2

Part I of the Schedule

UK RIE recognition requirements

Paragraph 1

Financial resources

2.3

Paragraph 2

Suitability

2.4

Paragraph 3

Systems and controls

2.5

Paragraph 4(1)

General safeguards for investors

2.6

Paragraph 4(2)(a)

Access to facilities

2.7

Paragraph 4(2)(b)

Proper markets

2.12

Paragraph 4(2)(c)

Availability of relevant information

2.12

Paragraph 4(2)(d)

Settlement

2.8

Paragraph 4(2)(e)

Transaction recording

2.9

Paragraph 4(2)(f)

Financial crime and market abuse

2.10

Paragraph 4(2)(g)

Custody

2.11

Paragraph 4(3)

Definition of relevant information

2.12

Paragraph 5

Disclosure by issuers of securities

2.12

Paragraph 6

Promotion and maintenance of standards

2.13

Paragraph 7

Rules and consultation

2.14

Paragraph 8

Discipline

2.15

Paragraph 9

Complaints

2.16

Part II of the Schedule

UK RIE default rules in respect of market contracts

2.17

Part III of the Schedule

UK RCH recognition requirements

Paragraph 16

Financial resources

2.3

Paragraph 17

Suitability

2.4

Paragraph 18

Systems and controls

2.5

Paragraph 19(1)

General safeguards for investors

2.6

Paragraph 19(2)(a)

Access to facilities

2.7

Paragraph 19(2)(b)

Clearing services

2.8

Paragraph 19(2)(c)

Transactions recording

2.9

Paragraph 19(2)(d)

Financial crime and market abuse

2.10

Paragraph 19(2)(e)

Custody

2.11

Paragraph 20

Promotion and maintenance of standards

2.13

Paragraph 21

Rules

2.14

Paragraph 22

Discipline

2.15

Paragraph 23

Complaints

2.16

Part IV of the Schedule

UK RCH default rules in respect of market contracts

2.17