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Insurance and Financial Institutions Regulatory Update: Bank of England Publishes Consultation And Discussion Papers on Resolution And Resilience Issues
21 October 2014
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The bank of England has published three consultation papers and a discussion paper as part of the Prudential Regulation Authority’s (“PRA”) wider financial institutions resolution and reliance agenda.
Two of the papers set out proposed changes to policyholder and depositor protection rules in the UK.
The other two papers introduce proposed provisions for the ring-fencing of core-uk financial services and ensuring operational continuity for failed UK insurance firms and financial institutions.
The four papers request comments by 6 January 2015.
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