A tool enabling directly-authorised member firms to calculate their capital adequacy requirements is being launched by Tenet Support Services (TSS).
The free calculator, available via the TSS extranet, will help firms work out how much additional capital they will need and work to meet the requirements before they are introduced in 2013. In November, the FSA proposed doubling the minimum level of capital resources for personal investment firms (PIFs) to £20,000. But it also announced the expenditure-based requirement - which demands PIFs hold three month's worth of fixed costs - will be extended to all firms. "Early planning for future capital requirements will be crucial and our calculator will assist adviser firms to identify th...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
