Document ID: chunk:federal_register_of_legislation:F2023L01292:body:0:p13
Version: federal_register_of_legislation:F2023L01292
Segment Type: other
Provision Reference: 
Character Range: 33346–36395

a full range of options for recovery or orderly wind-down; and
(b)       provide for the recovery or orderly wind-down of the Trade Repository's critical operations or services based on the results of the assessment referred to in paragraph (a).
(2) An Operator must, on request by an Australian Regulator, provide the Australian Regulator with information reasonably required by the Australian Regulator for purposes of resolution planning in respect of the Operator or in respect of Users.
(3) In establishing, implementing, maintaining and enforcing the policies, procedures and plans required under subrule (1), the Operator must take into account its obligations under Rules 2.3.2 and 2.3.4, and any obligations that may arise under section 904K of the Corporations Act in the event that the Trade Repository ceases to be licensed under section 905C of the Corporations Act.
Note: Under section 904K, ASIC may make a direction relating to Derivative Trade Data if the Trade Repository ceases to be licensed, including a direction requiring an Operator or former Operator to destroy or transfer to another Trade Repository or a Prescribed Derivative Trade Repository, all records of the Derivative Trade Data over which the Operator or former Operator has control.

2.4.12  Operational separation of functions
Where the Operator, a related body corporate of the Operator, or any other company with which the Operator has a material agreement in connection with the Trade Reporting Services, provides Non-Trade Reporting Services, the Operator must:
        (a)        disclose to ASIC a description of all of the Non-Trade Reporting Services, and update the disclosure as soon as practicable after any changes are made to the Non-Trade Reporting Services; and
(b)       establish, implement, maintain and enforce policies, procedures, systems and controls designed to ensure operational separation between the Non-Trade Reporting Services and the Trade Reporting Services.
Note: Operational separation may be achieved, for example, by supervisory arrangements including information barriers.

2.4.13 Outsourcing of functions
If an Operator outsources any of the Trade Reporting Services to another person (in this Rule, the Service Provider), the Operator must:
(a)        ensure that the outsourcing arrangement is covered by a contract with the Service Provider that is in writing;
(b)       establish, implement, maintain and enforce documented policies, procedures, systems and controls for ensuring the Operator continues to comply with its obligations under Part 7.5A of the Corporations Act, including under these Rules, in relation to the outsourced Trade Reporting Services;
(c)        at all times be able to access books, records and other information of the Service Provider relating to the outsourced Trade Reporting Services; and
(d)       ensure that Australian Regulators have the same access to all Derivative Trade Data, books, records and other information relating to the outsourced Trade Reporting Services and maintained by