Establishing resolution arrangements for investment banks

11 February 2011

On 7 February 2011, following their approval by Parliament, "The Investment Bank Special Administration Regulations 2011 and The Investment Bank (Amendment of Definition) Order 2011" were made.

This follows the completion of a consultation exercise on a new special administration regime for investment firms. Responses from stakeholders were invited during the consultation period, which ran from 16 September to 16 November 2010. The Government received 12 responses from various industry sectors including law firms, exchanges and trade associations.

On the 10 January 2011, the Government published a summary of responses to its consultation document "Special administration regime for investment firms" - this can be found below, along with all formal written responses received (except where confidentiality was requested by the respondent). The document also sets out the Government’s conclusions on the key legislative amendments raised by respondents to the consultation.

The Government intends to introduce insolvency rules to accompany "The Investment Bank Special Administration Regulations 2011" later this year. Separate rules are to be made for England and Wales, for Scotland and for Northern Ireland.

An impact assessment on both the Regulations and the Order can be found in the links below.

The documents are available in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.

Establishing resolution arrangements for investment banks

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