The Financial Conduct Authority (FCA) is consulting on widening the definition of 'standard assets' for providers of self-invested personal pensions (SIPP) to cut the cost of incoming capital adequacy requirements.
In a quarterly consultation paper out in June the regulator proposed to widen the definition of 'standard assets' from shares traded on a stock exchange to all securities traded on a platform authorised by a financial regulator or government agency. The regulator also proposed to increase valuation times and said it will issue additional guidance around the new rules, which it expects to "reduce compliance costs for firms". Standard assets are those for which SIPP providers do not have to hold extra capital under new capital adequacy rules. Related reading: Commercial property in...
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