Mr. Royce Miller, Partner, Head of Asia Financial Services Practice

Mr. Shinsuke Kobayashi, Counsel, Corporate Finance Practice

Freshfields Bruckhaus Deringer

Since the recent global financial crisis, new global regulatory tools have been developed to try to ensure that there will never again be financial institutions that are “too big to fail” and need to be bailed out by governments.   One of the main tools is recovery and resolution plans, which are also known as RRP or living wills.

To date there has not been much RRP activity required in Japan or the rest of Asia for institutions that are not headquartered here.  This is changing quickly, and a lot of Asian subsidiaries/branches that are parts of international financial groups are having to consider RRP issues and in some cases even come up with local recovery and resolution plans.

Two experts from Freshfields Bruckhaus Deringer will present on the  current status of RRP activities in Asia and Japan including:

· The Financial Stability Board’s Key Attributes and global regulatory issues behind RRP

· What types of entities are subject to RRP

· Status of RRP in Japan

· How headquarters and group RRP requirements affect branches and subsidiaries in Japan.

· Total loss absorbing capital (TLAC) proposals , and how these relate to RRP.