Recovery and Resolution Plans
Summary of requirements and key considerations
On 9 August 2011 the FSA published their Consultation Paper (CP 11/16) on Recovery and Resolutions Plans (RRPs) for financial institutions in the UK. The requirements will apply to:
- All UK incorporated deposit takers, regardless of size.
- Significant investment firms (defined as full scope BIPRU 730k firms with assets exceeding £15bn).
In addition, all firms which are subject to the requirements of CASS 6 and 7 of the DSA Handbook will be required to comply with the requirements for a “CASS Resolution Pack” which are included in the consultation paper. We have prepared a summary of the requirements and key considerations which arise from the consultation paper.