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.