FSA may look again at 2013 capital adequacy deadline

Speaking at the regulator's annual public meeting, the FSA chief executive said: "We are carefully considering whether we should be revisiting the timeline around that. It is one area where further thought is justified." The deadline for the new rules, which were finalised in 2009, is currently 31 December 2013, a year after RDR. Sants also re-stated the RDR would not be delayed. Under the new prudential regime for personal investment firms (PIFs), firms must hold capital resources equal to at least three months of their annual fixed expenditure in readily-realisable assets, such a...