The summary of the key elements of the recovery plan shall cover summaries of each of the following:
the recovery plan's information on governance;
the recovery plan's strategic analysis, including a summary of overall recovery capacity referred to in Article 12(3);
any material changes to the institution, group or recovery plan since the previous version of the recovery plan submitted to the competent authority;
the recovery plan's communication and disclosure plan;
the preparatory measures set out in the recovery plan.
For the purposes of Sections II and III of Chapter I of this Regulation, material change means any change which could impact the ability of an institution or of a United Kingdom parent undertaking or one or more of its subsidiaries to implement a recovery plan or to implement one or more recovery options contained in a recovery plan.
Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.