“Onshoring” Statutory Instruments Comment Series: Bank Recovery and Resolution

This paper considers legal uncertainties arising from the changes proposed by the draft Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (the “draft BRR SI”) which amends the Banking Act 2009 as well as other pieces of U.K. legislation to create an amended legislative framework for bank recovery and resolution after Brexit.

The paper was sent to HM Treasury with a covering letter in which the FMLC drew attention to another issue of legal uncertainty which will arise in relation to bank recovery and resolution in a “no deal” Brexit but which does not arise directly from the draft BRR SI.

The paper and letter are available for download here.