Part 9: Miscellaneous Section 40: Over the counter derivatives: clearing and procedures for reporting
This section inserts two new provisions into EMIR.
	Subsection (2) sets out an obligation for providers of clearing services to provide their services under FRANDT commercial terms and empowers the FCA to make rules to specify the content of those terms.
	Subsection (3) provides that Trade Repositories must establish procedures and policies to enhance data quality on OTC transactions and empowers the FCA to determine further detail through rules.
	Subsection (4) defines the rule-making powers of the FCA for the implementation of the FRANDT and TR measures described above.
	Subsection (5) allows the FCA to consult on the proposed implementing rules before the Act received Royal Assent.