Treasury has published draft clauses to go with its consultation on extending the resolution regime to non-bank financial institutions. The stabilisation powers and insolvency procedures in the Banking Act 2009 would be applicable, as appropriate, to clearing houses, investment firms and bank holding companies. The draft clauses also create two new special resolution objectives that authorities must have regard to when using the special resolution regime: protection of client assets and minimising adverse effects of a resolution on financial market infrastructure. The consultation remains open until 24 September.(Source: Draft Clauses and Consultation Website)