Consultation: Secondary legislation for non-bank resolution regimes—Summary of responses

Consultation: Secondary legislation for non-bank resolution regimes—Summary of responses

Original news:

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.

Responses

The response document is set out here : Response to consultation 

 

As a result of responses received, the g

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About the author:
Eleanor qualified in 1998 into the insolvency team at ASB law. She became a partner in 2005, and went on to head up the Recovery & Insolvency team. Whilst traditionally specialising mainly in contentious corporate insolvency matters, in recent years she has moved into the non contentious arena, in particular specialising in company administrations.