Treasury has published a summary of the responses submitted to its consultation “Financial sector resolution: broadening the regime”, where it proposed to extend the Special Resolution Regime under the Banking Act 2009 to non-bank financial institutions and financial market infrastructures (FMIs). Although the European Commission is consulting on this issue as well, the UK Government has opted to develop its own domestic regime as it is uncertain how long the European legislative process might take. The chosen route is to extend the powers under the Banking Act 2009 by means of amendments to the FS Bill, currently under scrutiny at the Lords. Respondents to the consultation have called into question the need for FMIs that are not central counterparties also to fall within the scope of the resolution regime. Treasury will consult on this subject in more detail before taking a decision. (Source: Financial Sector Resolution: Summary of Responses)