Without limiting the generality of AMI section 5.10, where an Authorised Market Institution’s obligations include making provision for the safeguarding and administration of Security Tokens belonging to Members and other participants on its facility, it must ensure that:
(1) where its safe custody arrangements involve acting as a Digital Wallet Service Provider, it complies with the same requirements that would apply to an Authorised Firm carrying on such activities under COB section 14.3
and the Client Asset provisions in COB sections 6.11
(2) where it appoints a Third Party Digital Wallet Service Provider to Provide Custody for Investment Tokens traded or cleared on its facility, that person is either:
(a) an Authorised Firm permitted to be a Digital Wallet Service Provider; or
(b) a firm that is regulated by a Financial Services Regulator to an equivalent level as that provided for under the DFSA regime for Providing Digital Wallet Services.