MIR 2.1.4

In considering whether a Recognised Body satisfies the Recognition Requirements, the Regulator will have regard to:

(a) the constitution, Regulatory Provisions and practices of the Recognised Body;
(b) the nature (including complexity, diversity and risk) and scale of the Recognised Body's business;
(c) the size and nature of the market which is supported by the Recognised Body's facilities;
(d) the nature and status of the types of investor who use the Recognised Body's facilities or have an interest in the market supported by the Recognised Body’s facilities;
(e) competition in the markets for services provided, or proposed to be provided, by the Recognised Body in its capacity as such; and
(f) the nature and scale of the risks to the Regulator's objectives associated with the matters described in (a) to (e).