MIR 7.2.3

In considering whether it is satisfied as to the requirements mentioned in Rule 7.2.2(a) and (b), the Regulator shall have regard to:

(a) the relevant law and practice of the jurisdiction in which the Applicant's head office is situated, including with respect to a Remote Clearing House Applicant, the equivalence of such laws to those set out in Chapter 3, Chapter 4 of Part 12, and Part 13 of FSMR; and
(b) the Regulatory Provisions of the Applicant.