The FSA has launched an impact study to support its case that pan-European proposals for capital ade...
The FSA has launched an impact study to support its case that pan-European proposals for capital adequacy designed for the banking sector should not be applied directly to investment management firms. Howard Davies, chairman of the FSA, said the imposition of the proposed amounts of capital that investment firms are required to hold to back their business against operational risk would result in disproportionate hikes in the quantity of cash they will be forced to hold. Davies said the FSA still had a year to lobby while the European Commission decides on the wording of a direct...
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