Following the FCA’s confirmation of the proposed changes to PIF capital adequacy requirements we thought it appropriate to remind firms that the changes come into effect on 30th June 2016.
See our previous news article here /news/capital-adequacy-requirements/ for confirmation of what it will mean for your firm.
Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.
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Firms need to have a clear understanding what their new prudential requirements will be.
ATEB clients should speak with their account manager as necessary; otherwise contact ATEB here to find out how we can help.
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The scope of the TRS has widened under 5MLD.
Mortgage advice and selling standards (Policy Statement 20/1)
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New rules around mortgage advice apply from 31 January 2020.