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ARTICLE · 10 JUNE 2016

Financial Conduct Authority Consults On Wind-Down Planning

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On May 23, 2016, the FCA launched a consultation on the proposed Guidance on wind-down planning.

United KingdomFinance and Banking
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On May 23, 2016, the FCA launched a consultation on the proposed Guidance on wind-down planning. The proposed Guidance is intended to assist firms regulated only by the FCA (i.e. it would not apply to any firm authorized by the Prudential Regulation Authority) to develop an approach to wind-down planning. The FCA is not prescribing an approach to winding down and is not requiring firms to create wind-down plans. The FCA's proposed Guidance covers the concept and process of wind-down planning, including the time horizon of the wind down period, the people involved in the planning process, potential wind-down scenarios, resource assessment, operational analysis including communication plans and a quick reference guide for smaller firms. Responses to the FCA's consultation are requested by July 22, 2016.

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