VP must publicly disclose the rules and relevant procedures we have defined to manage a participant’s default.
Procedure on insolvency of Participants or Issuers in VP Securities
Any insolvency of a Participant or an Issuer in VP Securities will be managed in accordance with the applicable VP Rule Book and User Guidelines of VP Securities. The Insolvency Procedure, as linked to below, describes the overall actions to be taken by VP, if a Participant or an Issuer of VP Securities becomes subject to Insolvency Proceedings as defined in Part 1 of the VP Rule Book (Definitions). The purpose is to ensure that VP Securities takes the appropriate measures in order to protect itself and other Participants or clients of Participants, and describes how VP Securities tests and periodically reviews the procedure.
You can find the Insolvency Procedure here: