Tenet launches capital adequacy calculator

Under the rules, which are being phased in from December, personal investment firms must hold capital resources equal to at least three months of their annual fixed expenditure in readily-realisable assets, such as cash. The minimum threshold for any firm will be set at £20,000, double the existing £10,000. Tenet said its calculator will allow firms to identify and understand the basic requirements and calculate what they will need. "Having been deferred for two years to allow firms to deal with the Retail Distribution Review, there are now only five months to go until the new rule...