ARTICLE
24 July 2014

Secondary Legislation Enacted To Extend UK Special Resolution Regime

AO
A&O Shearman

Contributor

A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets. This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength. Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations. Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
Secondary legislation was made and published which extends the Special Resolution Regime under the Banking Act 2009 to recognized central counterparties.
United Kingdom Finance and Banking

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.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More