MIR 7.2.2 Remote Recognition Requirements:
A Remote Body must ensure that:
(a) investors are afforded protection equivalent to that which they would be afforded if the body concerned were required to comply with the Recognition Requirements;
(b) there are adequate procedures for dealing with a Person who is unable, or likely to become unable, to meet his obligations in respect of one or more Market Contracts connected with the Remote Body;
(c) the Applicant is able and willing to co‐operate with the Regulator by the sharing of information and in other ways; and
(d) adequate arrangements exist for co‐operation between the Regulator and those responsible for the supervision of the Applicant in the jurisdiction in which the Applicant's head office is situated.