Home FCA Handbook REC REC 3 REC 3.22 Restriction of, or instruction to close out, open positions
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REC 3.22 Restriction of, or instruction to close out, open positions

01/04/2013R

Where a UK RIE decides to:

  1. (1)

    restrict the open position on any of the contracts of a member; or

  2. (2)

    issue instructions to a member to close out its positions on any contracts;

that UK RIE must immediately give the FCA notice of that event, and the member's name, the nature and size of any position to be restricted or closed out and the reasons for the UK RIE's decision.

30/04/2021G

Where a RAP proposes to impose a maximum bid size or take other remedial measures to mitigate risks of market abuse, financial crime or anti-competitive behaviour, the RAP must give the FCA notice of that event and details of the remedial measures proposed, in accordance with regulation 40 of the UK auctioning regulations.