PIFs must hold three months' worth of fixed costs - FSA

Key stakeholders had been told the regulator would loosen its rules on the EBR, dropping the three months requirement and putting in place more lenient guidelines. But the regulator has opted to stick with its original proposals. All firms will be required to hold the fixed costs in "realisable assets" such as cash. The minimum capital resources threshold for any firm has been set at £20,000. The regulator says, following feedback from the industry, the transition to the new regime has been extended by a year to 31 December 2013, allowing firms more time to comply with the requiremen...