S.L. 345.23 Art. 8Investment firms acting as a general clearing member for other persons.

A Maltese investment firm that acts as a general clearing member for other persons shall have in place effective systems and controls to ensure clearing services are only applied to persons who are suitable and meet clear criteria and that appropriate requirements are imposed on those persons to reduce risks to the Maltese investment firm and to the market. The Maltese investment firm shall ensure that there is a binding written agreement between the Maltese investment firm and the person regarding the essential rights and obligations arising from the provision of that service.