The European Commission has published a paper on its study covering pre-insolvency, early intervention, reorganisation and liquidation.

HM Treasury has issued a press release stating that the Government welcomes the European Commission's approval of the restructuring of the Royal Bank of Scotland and State Aid approval for the Asset Protection Scheme.

View Government welcomes approval of RBS restructuring, 14 December 2009  

Generally, financial services firms in Germany (Finanzdienstleistungsinstitute) are mandatory members of a protection scheme (Entschädigungseinrichtung der Wertpapierhandelsunternehmen - EdW). Members of this protection scheme are obliged to make regular financial contributions.

In 2005 Phoenix Kapitaldienst GmbH became insolvent and the EdW is due to pay out to Phoenix investors compensation which totals more than 100 million Euros. However, the EdW has insufficient funds to cover the entire amount due.

The FSA has published a short update on Lifemark S.A. (Lifemark). The FSA reports that on 11 February 2010, the Luxembourg financial services regulator, the Commission de Surveillance du Secteur Financier (the CSSF), applied to the Court in Luxembourg to extend the appointment of Eric Collard of KPMG as provisional administrator in respect of Lifemark.

The FSA has published the statement that it has provided to the court appointed examiner of Lehman Brothers Holding Inc, which is referred to in his wider report on the collapse of Lehman Brothers published on 11 March 2010.

View FSA statement to the US bankruptcy court examiner on the collapse of Lehman Brothers Holdings Inc, 12 March 2010

HM Treasury has published a consultation paper which is entitled Special Resolution Regime: the draft FSMA (Contribution to Costs of Special Resolution Regime) Regulations 2010.

This consultation seeks views on all aspects of the draft Financial Services and Markets Act 2000 (Contribution to Costs of Special Resolution Regime) Regulations 2010 which will be made under the new FSMA provisions when clause 28 of the Financial Services Bill is enacted.

The deadline for comments on the consultation is 15 June 2010.

The FSA has published a statement that provides an update on The Freedom SIPP Limited - In Liquidation.

PricewaterhouseCoopers, liquidators of the Freedom SIPP Limited has appointed an agent to wind up the Freedom SIPP Scheme.

View Update on The Freedom SIPP Limited - In Liquidation, 29 January 2010  

The FSA has released a further update on Keydata Investment Services Limited. The update reads as follows:

"On 18 November 2009 the Luxembourg financial services regulator, the Commission de Surveillance du Secteur Financier (the CSSF) applied to the Luxembourg court for Eric Collard of KPMG ADVISORY s.a.r.l to be appointed as administrateur provisoire (provisional administrator) of Lifemark S.A. (Lifemark).

The British Bankers’ Association has released the following statement on bank restructuring:

The Office of Public Sector Information (OPSI) has published The Insolvency (Scotland) Amendment (No. 2) Rules 2009. These Rules amend the Insolvency (Scotland) Rules 1986 (S.I. 1986/1915). No Regulatory Impact Assessment has been prepared in relation to these Rules as they are not expected to impose any significant burdens on business.

View The Insolvency (Scotland) Amendment (No. 2) Rules 2009, 1 September 2009