The Financial Conduct Authority’s final rules on Capital Adequacy imply that fixed term cash deposits that cannot be realised within 30 days will have to be classed as a ‘non-standard’ asset.
Last December, the Financial Conduct Authority released Handbook Notice No. 28.
Last December, the Financial Conduct Authority released Handbook Notice No. 28.
The latest FCA statement on the new capital adequacy rules strengthens the view that commercial property is, in most cases, a standard asset, a pensions expert says.
The FCA has published what it called ‘minor changes’ to its new capital adequacy rules this afternoon – with one expert saying the original proposals had been ‘watered down’.
Sipp inflows for January to September increased by nearly £3bn compared to the same period last year, according to data which covers 90% of the UK’s leading life and pensions companies.
Several advice firms are braced for FCA punishments after consumers were advised to switch their mainstream personal pensions into Sipps through ‘improper delegation’ to unauthorised firms.