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  • MIR 6.1 MIR 6.1 Suspension and removal of Financial Instruments from trading

    • MIR 6.1.1

      The Regulator may for the purpose of protecting:

      (a) the interests of investors; or
      (b) the orderly functioning of the financial markets,

      require a Recognised Investment Exchange to suspend or remove a Financial Instrument from trading or require a Recognised Clearing House to cease Clearing a Financial Instrument and to invoice back all open contracts.

    • MIR 6.1.2 MIR 6.1.2

      If the Regulator exercises this power, the Recognised Body concerned may refer the matter to the Regulatory Committee.

      • Guidance

        The procedure the Regulator will follow if it exercises its power to require a Recognised Investment Exchange to suspend or remove a Financial Instrument from trading or Clearing is set out in Part 14 of FSMR. The procedure the Regulator will follow if it exercises its power to require a Recognised Clearing House to cease Clearing a Financial Instrument is set out in Part 14 of FSMR, as if references to Recognised Investment Exchanges were to Recognised Clearing Houses.

    • MIR 6.1.3

      The procedure the Regulator will follow if it exercises its power to require a Recognised Body to suspend or remove a Financial Instrument from trading or Clearing is set out in Part 14 of FSMR. The Regulator's internal arrangements provide for decisions to exercise this power to be taken at an appropriately senior level. If the Regulator exercises this power, the Recognised Body concerned and the issuer (if any) of the relevant Financial Instrument may refer the matter to the Regulatory Committee.