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Secondary legislation was made and published which extends the Special Resolution Regime under the Banking Act 2009 to recognized central counterparties.
On 11 July 2014, secondary legislation was made and published
which extends the Special Resolution Regime ("SRR") under
the Banking Act 2009 to recognized central counterparties (those
clearing houses recognised under EMIR), systemically important
investment firms and group companies. The secondary legislation
comes into force on 1 August 2014.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.