The Financial Markets Law Committee (FMLC) has published a paper on the obligations of CCPs and clearing members setting out its concerns that there may be residual uncertainly or conflict between the legal framework for CCPs and UK law. The FMLC has proposed that certain changes should be made to the legal framework for CCPs, including amending Chapter 7 of CASS to include an express requirement that firms transferring client money to CCPs should only do so to accounts that are made available by the recipient for usage as a client transaction account and giving precedence to the records of the CCP.