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.

Subsection 2 Joint decision process on the group resolution scheme

Article 102 Process of the joint decision on the group resolution scheme

The process to reach a joint decision on the group resolution scheme proposed under Article 91(4) or Article 92(1) of Directive 2014/59/EU shall comprise the following steps to be implemented:

  1. (1)

    preparation of the draft group resolution scheme by the group-level resolution authority and communication to the resolution college members;

  2. (2)

    consultation on the draft group resolution scheme at least among the resolution authorities of the entities covered by the group resolution scheme;

  3. (3)

    preparation and communication of the joint decision on the group resolution scheme, by the group-level resolution authority to the resolution authorities of the subsidiaries covered by the group resolution scheme;

  4. (4)

    finalisation of the joint decision on the group resolution scheme pursuant to Article 91(7) or of Article 92(3) of Directive 2014/59/EU;

  5. (5)

    communication of the outcome of the joint decision to the resolution college members.