AFEP have been working with the FCA and HMT on their proposed insolvency changes for EMIs and APIs. To address shortcomings with the current insolvency regime, the Government is proposing introducing a bespoke plan for PIs and EMIs, and they are proposing The Investment Bank Special Administration Regulations 2011 (Investment Bank SAR), as a model for this new regime.
They have today opened a public consultation on the changes which closes on 14th January and AFEP will be responding.
It is our intention to run a round table on this specific issue over the next few weeks and I will be in touch with a confirmed date. This will give AFEP members the opportunity to benefit from a cohesive response across our industry but we would encourage members to look at the consultation initially and start to consider how it may affect your firm.