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.

Article 8 Recovery options

  1. (1)

    The subsection on recovery options shall include a list of all recovery options and a description of each option, as set out in Articles 9 to 12.

  2. (2)

    The subsection on recovery options shall set out a range of recovery options designed to respond to financial stress scenarios and which could reasonably be expected to contribute to maintaining or restoring the viability and financial position of the entity or entities covered by the recovery plan.

  3. (3)

    Each recovery option shall be described in a way that enables the competent authority to assess its impact and feasibility.

  4. (4)

    Recovery options shall include measures which are extraordinary in nature as well as measures that could also be taken in the course of the normal business of the entity or entities covered by the recovery plan.

  5. (5)

    Recovery options shall not be excluded for the sole reason that they would require a change to the current nature of the business of that entity or those entities.