A wind-down plan reduces the risk of negative effects on consumers and other stakeholders when a firm exits its regulated business. It identifies the steps and resources needed to wind-down the business, especially in a situation where resources are limited, and it evaluates the risks and impact of a wind-down and how these can be mitigated.
Wind-down and recovery planning has moved up the regulators radar in recent times, and not just because of the pandemic.
Payment and E-Money Institutions are under particular scrutiny and wind-down planning will become mandatory as part of the ICARA for investment firms, when the new Investment Firms Prudential Regime is implemented in 2022. Recovery Plan and Resolution Packs for banks are also critical, especially for smaller entities.
Our team has extensive hands on experience
We can help you develop a plan which meet regulatory requirements, yet is also practical and can be embedded.
Our services have been used by firms across many different sectors