Articles - Update on capital resources requirements for PIF's


 The Financial Services Authority (FSA) has deferred the introduction of new capital rules for personal investment firms for two years to allow firms more time to prepare.

 The rules were made in November 2009 (" target="_blank">http://www.fsa.gov.uk/pages/Library/Policy/Policy/2009/09_19.shtml">PS09/19) and were due to be phased in over two years, commencing on 31 December 2011 with the full requirements in place by end 2013.

 However, the phasing in of the new rules firms will now commence on 31 December 2013 with the full requirements in place by end 2015, giving firms who need it more time to build up their capital resources to the required levels.

Back to Index


Similar News to this Story

Technology transforming insurance from AI to Cyber Risk
The insurance industry is undergoing a significant transformation, driven by rapid advancements in technology. From property and casualty to life insu
Football Governance Code overhaul are we game
English football is on the brink of a governance overhaul with the Football Governance Bill 2024. We look at what clubs and leagues need to be prepare
LCPs new Scheme Stewardship platform
The Pension Playpen forum on LCPs new Scheme Stewardship platform

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.