FCA seeks responses to special administration regime consultation

New discussion paper published

Laura Dew
clock • 1 min read

The Financial Conduct Authority has published a discussion paper for investment firms on client money distribution and special administration.

The paper outlines recommendations on how to improve the speed of return of client assets to a firm's client in the event of the firm's failure, and to minimise the market impact upon a firm's entry into special administration. Topics covered in the paper include transfer of the client money pool to another firm, the provision of additional information to clients and administrators, and the treatment of allocated but unclaimed client money. Following the collapse of Lehman Brothers, a special administration regime was set up to ensure administrators return client assets to customers a...

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