Business Issue
A payment institution, facing financial difficulties due to pandemic-related branch closures and broader group issues, was no longer operational. After notifying the FCA of its situation, the firm was requested to provide a comprehensive wind-down plan. Lacking the internal capacity and expertise to meet this regulatory requirement, the business engaged fscom for support.
Solution
fscom facilitated a series of workshops with senior stakeholders to develop a tailored wind-down plan. Together, we identified key wind-down scenarios, indicators, and thresholds; mapped relevant contractual agreements; and outlined the key steps and stakeholders involved in the wind-down process. fscom also conducted financial forecasting and stress testing, developed a detailed communication matrix, and documented the full plan, including an executive summary.
Benefits
The client was able to deliver a clear, well-structured wind-down plan that met the FCA’s expectations. The plan not only addressed the immediate regulatory request but also gave the business a comprehensive blueprint for managing an orderly wind-down, should it be required.
Client
Feedback
The client valued fscom’s practical guidance and structured approach. The FCA responded with only a small number of clarification questions, which gave the client confidence that the plan was thorough, compliant, and fit for purpose.
