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khammond on DSKJM1Z7X2PROD with NOTICES3

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Federal Register / Vol. 86, No. 145 / Monday, August 2, 2021 / Notices
requirements adopted pursuant to those provisions, if the relevant provision applies only to the Covered Entitys activities with specified types of counterparties, and if the counterparty to the Covered Entity is not any of the specified types of counterparty, the Covered Entity complies with the applicable condition of this Order:
i As if the counterparty were the specified type of counterparty; in this regard, if the Covered Entity reasonably determines that the counterparty would be a financial counterparty if it were established in the EU and authorized by an appropriate EU authority, it must treat the counterparty as if the counterparty were a financial counterparty; and ii Without regard to the application of EMIR article 13.
6 Security-based swap status under EMIR. For each condition in paragraphs b through f of this Order that requires the application of, and the Covered Entitys compliance with, provisions of EMIR and/or other EU requirements adopted pursuant to those provisions, either:
i The relevant security-based swap is an OTC derivative or OTC derivative contract, as defined in EMIR article 27, that has not been cleared by a central counterparty and otherwise is subject to the provisions of EMIR article 11, EMIR RTS articles 11 through 15, and EMIR Margin RTS article 2; or ii The relevant security-based swap has been cleared by a central counterparty that is authorized or recognized to clear derivatives contracts by a relevant authority in the EU.
7 Memorandum of Understanding with the French Authorities. The Commission and the AMF and the ACPR have a supervisory and enforcement memorandum of understanding and/or other arrangement addressing cooperation with respect to this Order at the time the Covered Entity complies with the relevant requirements under the Exchange Act via compliance with one or more provisions of this Order.
8 Memorandum of Understanding Regarding ECB-Owned Information. The Commission and the ECB have a supervisory and enforcement memorandum of understanding and/or other arrangement addressing cooperation with respect to this Order as it pertains to information owned by the ECB at the time the Covered Entity complies with the relevant requirements under the Exchange Act via compliance with one or more provisions of this Order.
9 Notice to Commission. A Covered Entity relying on this Order must
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provide notice of its intent to rely on this Order by notifying the Commission in writing. Such notice must be sent to the Commission in the manner specified on the Commissions website. The notice must include the contact information of an individual who can provide further information about the matter that is the subject of the notice.
The notice must also identify each specific substituted compliance determination within paragraphs b through f of the Order for which the Covered Entity intends to apply substituted compliance. A Covered Entity must promptly provide an amended notice if it modifies its reliance on the substituted compliance determinations in this Order.
10 European Union Cross-Border Matters.
i If, in relation to a particular service provided by a Covered Entity, responsibility for ensuring compliance with any provision of MiFID or MiFIR
or any other EU or French requirement adopted pursuant to MiFID or MiFIR
listed in paragraphs b through f of this Order is allocated to an authority of the Member State of the European Union in whose territory a Covered Entity provides the service, the AMF or the ACPR must be the authority responsible for supervision and enforcement of that provision or requirement in relation to the particular service.
ii If responsibility for ensuring compliance with any provision of MAR
or any other EU requirement adopted pursuant to MAR listed in paragraphs b through f of this Order is allocated to one or more authorities of a Member State of the European Union, one of such authorities must be the AMF or the ACPR.
11 Notification Requirements Related to Changes in Capital. A
Covered Entity that is prudentially regulated relying on this Order must apply substituted compliance with respect to the requirements of Exchange Act rule 18a8c and the requirements of Exchange Act rule 18a8h as applied to Exchange Act rule 18a8c.
b Substituted Compliance in Connection With Risk Control Requirements This Order extends to the following provisions related to risk control:
1 Internal risk management. The requirements of Exchange Act section 15Fj2 and related aspects of Exchange Act rule 15Fh3h2iiiI, provided that the Covered Entity is subject to and complies with the requirements of: MiFID articles 16 and 23; MFC L. 5332, L. 53310.II and III,
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L. 53324 and L. 533241; MiFID Org Reg articles 21 through 37, 72 through 76 and Annex IV; CRD articles 74, 76, 79 through 87, 881, 911 and 2, 917
through 9, 92, 94 and 95; MFC L. 511
411B and L. 511411C, L. 51151, L. 51152.I, L. 51153, L. 51155
through L. 51169, L. 51171 through 85, L. 51189 through L. 51197, L.
511102, R. 511182 and R. 511163;
Internal Control Order articles 106, 111, 11415, 12122, 130 through 134, 146
through 186, 21112, 21415; CRR
articles 286 through 288 and 293; and EMIR Margin RTS article 2.
2 Trade acknowledgement and verification. The requirements of Exchange Act rule 15Fi2, provided that the Covered Entity is subject to and complies with the requirements of EMIR
article 111a and EMIR RTS article 12.
3 Portfolio reconciliation and dispute reporting. The requirements of Exchange Act rule 15Fi3, provided that:
i The Covered Entity is subject to and complies with the requirements of EMIR article 111b and EMIR RTS
articles 13 and 15; and ii The Covered Entity provides the Commission with reports regarding disputes between counterparties on the same basis as it provides those reports to competent authorities pursuant to EMIR RTS article 152.
4 Portfolio compression. The requirements of Exchange Act rule 15Fi4, provided that the Covered Entity is subject to and complies with the requirements of EMIR RTS article 14.
5 Trading relationship documentation. The requirements of Exchange Act rule 15Fi5, other than paragraph b5 to that rule when the counterparty is a U.S. person, provided that the Covered Entity is subject to and complies with the requirements of EMIR
article 111a, EMIR RTS article 12, and EMIR Margin RTS article 2.
c Substituted Compliance in Connection With Capital and Margin 1 Capital. The requirements of Exchange Act section 15Fe and Exchange Act rules 18a1, and 18a1a through d, provided that:
i The Covered Entity is subject to and complies with: CRR, Part One General Provisions Article 61, Part Two Own Funds, Part Three Capital Requirements, Part Four Large Exposures, Part Five Exposures to Transferred Credit Risk, Part Six Liquidity, and Part Seven Leverage;
MiFID Org Reg, article 231; BRRD, articles 456 and 811; CRD, articles 73, 79, 86, 129, 1291, 130, 1301, 1305, 131, 133, 1331, 1334, 141,
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