Related provisions for REC 3.15.7
1 - 11 of 11 items.
Where a UK recognised body suspends providing clearing facilitation services generally in respect of any derivative (other than an option in relation to a security), type of security or type of option in relation to a security, it must immediately give the FCA notice of that event, particulars of that derivative, type of security or type of option in relation to a security, as the case may be, and the reasons for the action taken.33
Where a UK recognised body suspends any arrangements it makes for the safeguarding and administration of any type of asset belonging to any other person (other than an undertaking in the same group), that UK recognised body must immediately give the FCA3notice of that event, particulars of that type of asset and the reasons for the action taken.3
The purpose of REC 3.14 is to ensure that the FCA3is informed of planned changes to the services a UK recognised body intends to provide and of the normal hours of operation of those services. Unplanned suspensions of those services, unplanned changes in hours of operation and events causing a UK recognised body to be unable to provide those services should be notified to the FCA3under the rules in REC 3.15.33
Where a UK recognised body proposes to provide (or to cease to provide) clearing facilitation services3 in respect of:3(1) a specified investment (other than a security or an option in relation to a security); or (2) a type of security or a type of option in relation to a security;it must give the FCA3notice of that event and the information specified for the purposes of this rule in REC 3.14.6 R, at the same time as that proposal is first formally communicated to its members
Where a UK recognised body proposes to make (or to cease to make) arrangements for the safeguarding and administration of assets belonging to any other person (other than an undertaking in the same group), that recognised body must give the FCA3notice of that event, and the information specified for the purposes of this rule in REC 3.14.9 R, at the same time as that proposal is first formally communicated to its members or shareholders (or any group or class of them).3
Where any reserve information technology system of a UK recognised body fails in such a way that, if the main information technology system of that body were also to fail, it would be unable to operate any of its facilities during its normal hours of operation, that body must immediately give the FCA1notice of that event, and inform the FCA:111(1) what action that UK recognised body is taking to restore the operation of the reserve information technology system; and (2) when it
Where a UK recognised body has taken any disciplinary action against any member or any employee of a member, in respect of a breach of a rule relating to the carrying on by the UK recognised body of any of its regulatory functions, that body must immediately notify the FCA1of that event, and give:1(1) the name of the person concerned;(2) details of the disciplinary action taken by the UK recognised body; and(3) the UK recognised body's reasons for taking that disciplinary act
Where an appeal is lodged against any disciplinary action referred to in REC 3.20.1 R, the UK recognised body must immediately give the FCA1notice of that event, and:1(1) the name of the appellant and the grounds on which the appeal is based, immediately; and(2) the outcome of the appeal, when known.
Where a UK recognised body admits a member who is not an authorised person of a type of which, immediately before that time, that UK recognised body had not admitted to membership, it must immediately give the FCA4notice of that event, and:4(1) a description of the type of person whom it is admitting to membership; and72(2) (in relation to a UK RIE ) 2particulars of its reasons for considering that, in admitting that type of person to membership, it is able to continue to satisfy
Where a UK recognised body admits for the first time a member whose head or registered office is in a jurisdiction from which that UK recognised body has not previously admitted members, it must immediately give the FCA4notice of that event, and:4(1) the name of that jurisdiction; (2) the name of any regulatory authority in that jurisdiction which regulates that member in respect of activities relating to specified investments or (for a RAP) relating to emissions auction products8;
Where a UK recognised body becomes aware that a person has been appointed by any regulatory body (other than the FCA2or a UK recognised body) to investigate:2(1) any business transacted by means of its facilities or12(2) any aspect of the clearing facilitation services2 which it provides;2it must immediately give the FCA2notice of that event.2
1When a UK RIE becomes aware of a transfer of ownership of the UK RIE which gives rise to a change in the persons who are in a position to exercise significant influence over the management of the UK RIE or (in the case of a UK RIE that is also a RAP) over the management of the RAP6, whether directly or indirectly, it must immediately notify the FCA3of that event, and: 523(1) give the name of the person(s) concerned; and(2) give details of the transfer.[Note: article 46(2)(b)4
Where a UK recognised body has evidence tending to suggest that any person has:(1) been carrying on any regulated activity in the United Kingdom in contravention of the general prohibition; or(2) been engaged in market abuse; or(3) committed a criminal offence under the Act or subordinate legislation made under the Act; or(4) committed a criminal offence under Part V of the Criminal Justice Act 1993 (Insider dealing); or(5) committed a criminal offence under the Money Laundering