Regulatory AlertsDOC-2009-07 Prior Authorization Application Dossier Submitted to the AMF for CCP Adhesion or Settlement System Participation
The Autorité des Marchés Financiers (AMF) issued Instruction DOC-2009-07 to define the mandatory content of prior authorization applications submitted by central counterparties or settlement system operators. The regulation requires applicants to provide detailed information regarding their legal structure, governance, risk management capabilities, and regulatory oversight framework. Additionally, the AMF retains the authority to request any supplementary information deemed necessary to evaluate the establishment's eligibility for adhesion or participation.
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V - Market Infrastructures and Other Market Participants V. 2 - Central Counterparties, Clearing Houses, Settlement and Delivery Systems
Doctrine Post-Trade
Prior Authorization Application Dossier Submitted to the AMF for CCP Adhesion or Settlement System Participation
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Applicable as of September 8, 2009 Instruction DOC-2009-07
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Article 550-1-1 of the General Regulation
Article 560-1-1 of the General Regulation
Single Article The dossier to be transmitted to the AMF by a central counterparty or by an operator of a settlement and delivery system, when prior authorization from the AMF is required for the adhesion of an establishment to the central counterparty or participation in the system, must include the following elements:
The name of the establishment; The address of its registered office; Its legal form; Its shareholding structure; The names of its principal senior executives; A description of its activities; A description of the resources available to it, including the measures implemented for risk management; The names of its national regulatory, supervisory, and surveillance authorities; A description of the legal and regulatory framework governing its activities: conditions for access, exercise, and control;
When the establishment is a central counterparty or manages a settlement and delivery system for financial instruments, the operating rules (or an equivalent document) of the establishment in its capacity as a central counterparty or of the settlement and delivery system it manages.
The AMF may request any supplementary information it deems useful. Legal notices: Publisher: The Director of the Communication Department of the AMF. Contact: Communication Department, Autorité des Marchés Financiers - 17, place de la Bourse - 75082 Paris Cedex 02