IFAs 'not affected' by Capital Requirements Directive - FSA

The comment is revealed following publication of the FSA's latest consultation paper - Strengthening Capital Standards 2 - containing its proposals for implementing the CRD following agreement of the directive by the EU Council of Ministers on 11 October 2005. The CRD was developed in line with the revised Basel framework – which will apply from 1 January 2008 – and re-writes the existing Capital Adequacy Directive (CAD) and Banking Capital Directive (BCD). Joseph Eyre, press officer at the FSA, claims the vast majority of IFAs will not be affected by the directive because it is mainl...