The Treasury has published the Financial Markets and Insolvency (Settlement Finality) (Amendment) Regulations 2009, which will come into force on 1 October 2009. They will amend the Financial Markets and Insolvency (Settlement Finality) Regulations 1999, following changes in insolvency law.  

The EC Directive on settlement finality in payment and securities systems, (SFD), implemented by these Regulations, protects payment and settlement systems and central banks by minimising the disruption caused by the insolvency of participants or the providers of collateral security.  

The SFD requires Member States to ensure that the rights of participants and central banks take priority over the normal principles of insolvency.  

View The Financial Markets and Insolvency (Settlement Finality) (Amendment) Regulations 2009, 20 July 2009