Judge Megarry in Re Rolls Razor Limited¹, aptly describes the necessity of insolvency enquiries:

PRA updates remuneration policy statement for PRA category 1 and 2 firm • PRA publishes CP24/17: Solvency II: internal models - modelling of the matching adjustment • PRA publishes CP23/17: Financial management and planning by insurers • Wholesale insurance brokers market study launched by the FCA • The FCA's future approach to consumers • PRA publishes CP22/17: Solvency II: Supervisory approval for the volatility adjustment • FCA publishes PS17/24: Handbook changes to reflect the new regulatory framework for insurance-linked securities - feedback to CP16/34 and CP17/3 and near-final rules

On 17 July 2014, the regulation creating the European Account Preservation Order ("EAPO") came into force. This regulation will serve as an alternative to domestic remedies and relates to the freezing of bank accounts across participating EU Member States. The EAPO Regulation will be applicable from 18 January 2017.  It will automatically apply to all Member States except the UK and Denmark which have opted out of the EAPO; therefore, it will not apply to assets located in those countries.

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The Great Brexit Debate dentons.com Introduction The UK is now counting down to the 23 June 2016 referendum on whether to stay in or leave the European Union. Dentons summarises the background to this momentous choice, and takes a deeper look at some of the legal issues involved in some key areas that would be impacted by a vote to leave the EU.

Sultani Decrees

Sultani Decree No. 37/2012

Appoints the new Board of Governors of the Central Bank of Oman, naming Dr Ali bin Mohammed bin Moosa as Deputy Chairman.

Promulgated on 18 June 2012.          Effective from 11 June 2012.

Sultani Decree No. 38/2012 

Grants Omani citizenship to the named individuals.

Promulgated on 18 June 2012.         Effective on promulgation.

Treasury makes banking insolvency rules: Treasury has made insolvency and administration rules covering building societies in England and Scotland and amended the English rules on banks in insolvency and administration and the Scottish rules on banking insolvencies. The English rules, among other changes, provide for the statement of proposals to be sent to FSA and FSCS and for the disapplication of set-off for protected deposits up to FSCS's statutory limit. The Scottish instruments apply to insolvencies of banks and building societies under the Banking Act 2009.

Treasury has published two orders made under the Insolvency Act 1986 and the Banking Act 2009. The orders are:  

Leslie Benedict: “Money isn’t everything, Jett”
Jett Rink: “Not when you’ve got it.”
Giant (1956)

WorldSpreads Limited has become the third firm to enter into the Special Administration Regime. The firm, a spread betting company, entered into the regime following the discovery of accounting irregularities which led to a finding that the firm could not continue in business. (Source: Firm Enters Special Administration)

Following proposals Treasury made at the end of 2009, it has now published for consultation draft regulations setting up a special resolution regime for investment banks. The regime will apply to firms that meet all of the following three conditions: