Recital 6

(6)In Implementing Decision (EU) 2015/2039, the legally binding requirements for CCPs authorised in South Africa were deemed equivalent to the requirements laid down in Title IV of Regulation (EU) No 648/2012. The amended South African regulatory framework for CCPs authorised in South Africa maintains the assessment of compliance of licensed clearing houses and licensed CCPs against the Principles for financial market infrastructures (‘PFMIs’), issued in April 2012 by the Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions (‘IOSCO’). ⁵