Recognition given under The Uncertificated Securities (Guernsey) Regulations, 2009
11th September 2013
Following an application made under the above-named regulations, the Commission has granted recognition to Euroclear UK & Ireland Limited as an overseas operator with effect from 30 August 2013.
The Uncertificated Securities (Guernsey) Regulations, 2009 (“the Regulations”) came into operation on 30 November 2009. The general purpose of the Regulations is to confirm how title to units of a security may be evidenced and transferred by means of a computerised settlement system without a written instrument and provides for the approval or recognition, and the control, of persons who operate computerised settlement systems. A person may apply to the Commission either for approval under regulation 4 as an operator of a computerised settlement system, or recognition under regulation 5 as an operator of a computerised settlement system.