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 59 Coordination of external communication

  1. (1)

    The members of the resolution college shall coordinate their external communications related to group resolution strategies and schemes.

  2. (2)

    For the purpose of coordination of the external communication, the members of the resolution college shall agree at least on the following:

    1. (a)

      allocation of responsibilities for coordinating external communication, during a going concern situation, in a situation where an institution or group is considered as failing or likely to fail, and in a resolution situation;

    2. (b)

      determining the level of information to be disclosed on group resolution strategies;

    3. (c)

      coordination of public statements in situations where an institution or group is considered as failing or likely to fail;

    4. (d)

      coordination of public statements related to resolution actions taken including the publication of orders or instruments by which the resolution actions were taken or notices summarising the effects of resolution actions.