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16 July 2010
Issue: 7426 / Categories: Legislation
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Financial Services and Markets Act

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Financial Services and Markets Act 2000 (Contribution to Costs of Special Resolution Regime) Regulations 2010 (SI 2010/Draft)

Repeal and replace the Financial Services and Markets Act 2000 (Contribution to Costs of Special Resolution Regime) Regulations 2009 (SI 2009/807). Allow the Treasury to call upon Financial Services Compensation Scheme (FSCS) to contribute to costs associated with the exercise of a stabilisation power of the special resolution regime (SRR) under the Banking Act 2009, Pt 1 to resolve a failing bank or building society. Set out the type of information that is to be contained in a notification from the Treasury to the FSCS that it is required to make payments in respect of the resolution, including information on the institution itself and the recoveries the Treasury expects.

 

In force : N/A

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MOVERS & SHAKERS

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Jurit LLP—Caroline Williams

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Private wealth and tax team welcomes cross-border specialist as consultant

Freeths—Michelle Kirkland Elias

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International hospitality and leisure specialist joins corporate team as partner

Flint Bishop—Deborah Niven

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Firm appoints head of intellectual property to drive northern growth

NEWS
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NLJ this week: No such thing as a ‘Welsh seat’
Talk of a reserved ‘Welsh seat’ on the Supreme Court is misplaced. In NLJ this week, Professor Graham Zellick KC explains that the Constitutional Reform Act treats ‘England and Wales’ as one jurisdiction, with no statutory Welsh slot
NLJ this week: Jury reform risks justice for efficiency’s sake
The government’s plan to curb jury trials has sparked ‘jury furore’. Writing in NLJ this week, David Locke, partner at Hill Dickinson, says the rationale is ‘grossly inadequate’
NLJ this week: Crypto fightback offers ‘new frontier for law’
A year after the $1.5bn Bybit heist, crypto fraud is booming—but so is recovery. Writing in NLJ this week, Neil Holloway, founder and CEO of M2 Recovery, warns that scams hit at least $14bn in 2025, fuelled by ‘pig butchering’ cons and AI deepfakes
NLJ this week: Time to revive the duty to report crime?
After Woodcock confirmed no general duty to warn, debate turns to the criminal law. Writing in NLJ this week, Charles Davey of The Barrister Group urges revival of misprision or a modern equivalent
NLJ this week: When are experts truly ‘necessary’?
Family courts are tightening control of expert evidence. Writing in NLJ this week, Dr Chris Pamplin says there is ‘no automatic right’ to call experts; attendance must be ‘necessary in the interests of justice’ under FPR Pt 25
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