UK sets out new wind-down rules

16 Dec 2009

City investment banks face a barrage of more than 30 policy initiatives designed to minimise the impact of their possible failure, the UK Treasury said as it made the proposals in a consultation paper launched on Monday.

The core of the proposals is a set of measures to enable the managed wind-down of a firm: development of resolution plans (living wills), a new set of special administration objectives and new responsibilities to be plan on firms’ boards.

The Treasury is trying to achieve better outcomes ...

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