On 11 July 2014, secondary legislation was made and published which extends the Special Resolution Regime ("SRR") under the Banking Act 2009 to recognized central counterparties (those clearing houses recognised under EMIR), systemically important investment firms and group companies. The secondary legislation comes into force on 1 August 2014.
The legislation is available at:
http://www.legislation.gov.uk/new/uksi/2014-07-11.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
