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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

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.