Related provisions for REC 2.17.1

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REC 2.13.1UKRP

Schedule to the Recognition Requirements Regulations, Paragraph 6

2(1) The [UK RIE] must be able and willing to promote and maintain high standards of integrity and fair dealing in the carrying on of regulated activities by persons in the course of using the facilities provided by the [UK RIE].

(2) The [UK RIE] must be able and willing to cooperate by the sharing of information or otherwise, with the [FCA].4with any other authority, body or person having responsibility in the United Kingdom for the supervision or regulation of any regulated activity or other financial service, or with an overseas regulator within the meaning of section 195 of the Act.

4
REC 6.3.3GRP
The reference to recognition requirements in section 292(3)(a) of the Act is a reference to the requirements applicable to UK RIEs in the Recognition Requirements Regulations. These requirements are set out, together with guidance, in REC 2.3
MAR 10.3.2GRP
A UK market operator operating a trading venue which trades commodity derivatives must apply position management controls on that trading venue, in accordance with paragraph 7BA of the Schedule to the Recognition Requirements Regulations, as inserted by the MiFI Regulations. [Note: article 57(8) to 57(10) of MiFID]
MAR 10.4.2GRP
A3regulated market which trades commodity derivatives or emission allowances must provide position reports in accordance with paragraph 7BB of the Schedule to the Recognition Requirements Regulations, as inserted by the MiFI Regulations. [Note: article 58(1) of MiFID] 1
REC 2.14.1UKRP

Schedule to the Recognition Requirements Regulations, paragraph 7

2(1) The [UK RIE] must ensure that appropriate procedures are adopted for it to make rules, for keeping its rules under review and for amending them.

(2) The procedures must include procedures for consulting users of the [UK RIE's ] facilitiesin appropriate cases.

(3) The [UK RIE ] must consult users of itsfacilities on any arrangements it proposes to make for dealing with penalty income in accordance with paragraph 8(3) ... (or on any changes it proposes to make to those arrangements).
REC 1.1.2GRP
(1) UK RIEs4 are exempt persons under section 285 of the Act (Exemption for recognised investment exchanges and clearing houses).4(2) UK RIEs4 must satisfy recognition requirements prescribed by the Treasury (in certain cases with the approval of the Secretary of State) in the Recognition Requirements Regulations. UK RIEs must also satisfy the MIFID/MiFIR requirements5.26ROIEs4 must satisfy recognition requirements laid down in section 292 of the Act (Overseas investment exchanges
REC 2.15.1UKRP

Schedule to the Recognition Requirements Regulations, Paragraph 8

2(1)

The [UK RIE] must have -

(a)

effective arrangements (which include the monitoring of transactions effected on the [UK RIE]) for monitoring and enforcing compliance with its rules, including rules in relation to the provision of clearing services in respect of transactions other than transactions effected on the [UK RIE]);

(b)

effective arrangements for monitoring and enforcing compliance with the arrangements made by it as mentioned in paragraph 4(2)(d); and

(c)

effective arrangements for monitoring transactions effected on the [UK RIE] in order to identify disorderly trading conditions.

(2)

Arrangements made pursuant to sub-paragraph (1) must include procedures for -

(a)

investigating complaints made to the [UK RIE] about the conduct ofpersonsin the course of using the [UK RIE's ] facilities; and

(b)

the fair, independent and impartial resolution of appeals against decisions of the [UK RIE].

(3)

Where arrangements made pursuant to sub-paragraph (1) include provision for requiring the payment of financial penalties, they must include arrangements for ensuring that any amount so paid is applied only in one or more of the following ways -

(a)

towards meeting expenses incurred by the [UK RIE] in the course of the investigation of the breach in respect of which the penalty is paid, or in the course of any appeal against the decision of the [UK RIE] in relation to that breach;

(b)

for the benefit of users of the [UK RIE's ] facilities;

(c)

for charitable purposes.