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  1. Point in time
    2019-10-25

WDPG App 12.1 Documentation, approval and maintenance

WDPG App 12.1.1G

1Firms should keep a written record of discussion of the wind-down planning exercise, and most importantly, the wind-down plan as the final output from that process.

WDPG App 12.1.2G

The final output – the wind-down plan – will be easier for its future users to implement if it is simply structured for ease of reference with sections such as:

  1. (1)

    governance process for wind-down scenario (WDPG App 6);

  2. (2)

    operational analysis for winding down (WDPG App 8);

  3. (3)

    estimated revenue/costs schedule of wind-down (WDPG App 9); and

  4. (4)

    resource assessment (WDPG App 10).

WDPG App 12.1.3G

The governing body of a firm should review and approve a wind-down plan and then maintain it by designating an accountable individual to own the document. This maintenance will ensure its reliability as an effective resource for the firm.

Effective

Less effective

Wind-down plan is kept as a live document and is reviewed at least once a year.

Wind-down plan is left unrevised for years.