Abstract
Chapter 7 explains the key features of the resolution regime and how it applies to both banks and investment firms. It specifically looks at the reforms introduced by the Financial Services Act 2012, the Financial Services (Banking Reform) Act 2013, and the move to implement the Bank Recovery and Resolution Directive 2015 (as well as The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020, which implement the BRRD and the BRRD II post Brexit) to put in place a special regime for banks and investment banks. The chapter discusses the specific measures concerning the broader special administration and insolvency arrangements. The chapter looks at the treatment of depositors and client assets and explains the priority accorded to them during the administration and insolvency procedure.
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