Corporate Advisory

PRA paper on ensuring Operational continuity in resolution

The Prudential Regulation Authority (PRA) has issued its discussion paper setting out its preliminary views on the principles that firms’ operational arrangements must satisfy in order to facilitate recovery actions, resolution  or post resolution restructuring of firms.

It sets out that the discussion paper should be read by all PRA-authorised banks, building societies and investment firms to which any eventual proposals may apply. It is also likely to be of interest to policymakers and practitioners involved in the resolution of failed firms, as well as insurance firms for which similar proposals may be extended after a separate consultation at a later stage.
Following the end of the consultation period on this paper, the PRA plan a consultation paper, targeting the publication of draft rules in 2015.