The Government is conducting a detailed review of resolution arrangements for failing investment banks. As part of this review the Government published a consultation paper on a new special administration regime for investment firms. The consultation is aimed at the financial services, legal advisors,insolvency practitioners, investment firms.
The special administration regime is based on the proposals previously set out in the December 2009 consultation paper Establishing resolution arrangements for investment banks and the responses to that paper. The other regulatory proposals that were consulted on in the December paper, to enhance the protection of client assets and money, and to ensure that investment firms prepare for their own failure, are being considered and will be taken forward by the FSA, subject to its own consultation and cost benefit processes under the Financial Services & Markets Act 2000.
http://www.hm-treasury.gov.uk/d/consult_sar_160910.pdf
Location