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 98 Dialogue on the need for a group resolution scheme

  1. (1)

    After receiving the notification referred to in point (a) or (h) of Article 81(3) of Directive 2014/59/EU, the group-level resolution authority shall endeavour to organise a dialogue in accordance with paragraphs 2 and 3 of this Article involving at least those members of the college who are the resolution authorities of the subsidiaries.

  2. (2)

    For the purposes of paragraph 1, the group-level resolution authority shall transmit the following information to the members:

    1. (a)

      the notification received;

    2. (b)

      its proposal on the topics referred to in paragraph 3;

    3. (c)

      the time limit by which the dialogue should be concluded.

  3. (3)

    The dialogue shall concern the following:

    1. (a)

      whether, in accordance with Article 91 or 92 of Directive 2014/59/EU, the resolution of the subsidiary, or of the Union parent undertaking respectively, would have group dimensions and would require the drawing up of a group resolution scheme;

    2. (b)

      whether the financing plan shall be based on mutualisation of national financing arrangements in accordance with Article 107 of Directive 2014/59/EU.