CP1056

Formal title: Additional Authorisation Category for Entry Processes

Current Status

Submission
Assessment
CPC Consultation
Committee Decision
Awaiting Implementation
Implemented

Summary

BSCP511 describes the processes by which Parties and Party Agents undergo Entry Process testing prior to operation in the SVA market. As the testing is often lengthy and involves a significant amount of resources on the part of applicants, BSCP511 and BSCP512 both require Entry Process requests to be signed by a Main Board Director of the applicant company. It has been identified that, on occasions, applicants requiring testing have had difficulty in obtaining the necessary director-level authorisation, causing delays in the Entry Process timetable and potentially leaving the applicant in a state of non-compliance. Furthermore, in order to validate Entry Process requests, the Entry Process Co-ordinator is required to look up and maintain a suitable list of director-level personnel for each applicant company.

Progression

This CP was implemented

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