FCA has published its finalised guidance on its expectations on market operators to ensure their members comply with their rules on an ongoing basis. FCA acknowledges there will be differences based on operators and markets and expects operators to apply a risk-based approach. Within this, it says all market operators should have in place effective and proportionate arrangements, with documented processes and procedures. They must be able to determine that their members’ systems and controls can be reasonably expected to ensure compliance with the respective market operator’s rules and trading procedures. The arrangements should cover both assessments of new members and ongoing arrangements for continued assurance. FCA also notes that operators should be proactive in engaging with members to spot potential for difficulties, rather than merely reacting when the difficulties arise. (Source: FCA Publishes Market Operator Guidance)