The FCA has published a guidance consultation on wind-down planning (GC16/5). It asks firms and their professional advisors clarify what wind-down planning should cover and builds on discussions the FCA has already had with individual firms. The FCA believes that an effective wind-down plan should help a failing firm to cease its regulated activities and achieve cancellation of permission with minimal adverse impact on its clients, counterparties and the winder markets.. The document does not impose an obligation on firms to create wind-down plans but suggests a logical approach. The FCA accepts that there are many different approaches and encourages firms to take the approach document into consideration as a starting point to tailoring a model that best suits their circumstances. It will not be part of the Handbook, and comments can be made until 22 July 2016.