Life breathed into living wills

The FSA published delayed feedback to its autumn 2011 consultation on Recovery and Resolution Plans (RRPs) in May 2012. The main message was ‘watch this space’ as the regulator has decided to delay its final rules yet further. But it has published some significant changes to its proposals. Rosali Pretorius and Andrew Barber answer main questions arising from the feedback.

Rosali Pretorius (partner) and Andrew Barber (senior associate) are members of law firm SNR Denton’s financial services and funds practice in London. Contact them at rosali. pretorius@snrdenton.com and andrew.barber@snrdenton.com.

Why has the FSA only published draft rules?

There are now many significant developments that are relevant to RRPs. The FSA has decided to delay publication of its final rules to make the rules in the UK consistent, as far as is possible, with: