What the FCA capital resources rules mean for advisers

The regulator has published its final rules relating to the changes to capital resources in policy statement PS15/28: Capital resources requirements for personal investment firms (PIFs).  These rules detail the amount of capital firms have to hold to ensure they meet their liabilities. It's my opinion that, while a number of the proposals did not contain a sufficient level of detailed background research, or could have been viewed as a barrier to entry and therefore restricted effective competition, the major concern was the funding of the Financial Services Compensation Scheme (FSCS)...