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Between September and November 2013, HM Treasury consulted on proposed secondary legislation to underpin the extension of the financial services Special Resolution Regime.
The proposed secondary legislation was intended to:
• set out the investment firms captured by the new regime
• outline the specific conditions in which an entity will be considered a banking group company
• establish safeguards around partial property transfers
• extend third party compensation arrangements to investment firms and banking group companies
• amend insolvency rules to extend the Bank Administration procedure to investment firms and banking group companies.
The response document is set out here : Response to consultation
As a result of responses received, the g
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