Key takeaways:

• The bank of England has published three consultation papers and a discussion paper as part of the Prudential Regulation Authority’s (“PRA”) wider financial institutions resolution and reliance agenda.
• Two of the papers set out proposed changes to policyholder and depositor protection rules in the UK.
• The other two papers introduce proposed provisions for the ring-fencing of core-uk financial services and ensuring operational continuity for failed UK insurance firms and financial institutions.
• The four papers request comments by 6 January 2015.