Article 9 Policies and procedures

Policies and procedures that are to be provided as part of an application for registration as a securitisation repository shall contain the following:

1. (a)

   evidence that the board approves the policies and that senior management approves the procedures and is responsible for the implementation and maintenance of those policies and procedures;

2. (b)

   a description of how those policies and procedures are communicated within the applicant's organisation, how compliance with those policies and procedures is ensured and monitored on a day-to-day basis, and who is responsible for compliance with those policies and procedures;

3. (c)

   any records indicating that staff members and staff members who are operating under any outsourcing arrangement are aware of those policies and procedures;

4. (d)

   a description of the measures to be taken in the event of a breach of those policies and procedures;

5. (e)

   a description of the procedure for reporting to the FCA any material breach of the policies or procedures which may result in a breach of the conditions for registration;

6. (f)

   a description of the arrangements for notifying the FCA promptly of any planned material changes to the applicantâs information technology systems, prior to their implementation.