The PRA has published a new webpage setting out information on how to serve it with copies of written statements relating to a bank’s ring-fencing transfer scheme (RFTS).
On its website, the PRA explains that persons alleging that they would be adversely affected by the carrying out of an RFTS are entitled to be heard by the court if, before the final hearing, they file their written statement with the court and serve copies on the PRA and the firm whose business is to be transferred. This is set out in section 110(5) of the Financial Services and Markets Act 2000. Written statements can be served to the PRA by email, post or by hand.
View New PRA webpage on serving written statements on ring-fencing transfer schemes, 17 November 2017