REC 6.4 Competition scrutiny

Applications from overseas investment exchanges and overseas clearing houses are subject to the same competition scrutiny as applications from prospective UK recognised bodies (see REC 5). The FSA will therefore follow the relevant steps set out in REC 5.2 and may not make a recognition order without the approval of the Treasury.

Potential applicants may wish to consult the Office of Fair Trading separately if they have any queries about the competition assessment or there are any aspects of their rules or guidance which they consider they may need to discuss with the Office of Fair Trading.