This chapter includes rules that refer to provisions of the UK CRR in the form in which it stood at 31 December 2021. That version of the UK CRR can be found on legislation.gov.uk using this link.
IPRU-INV 5.3 Financial resources
Own funds
1A firm must calculate its own funds in accordance with IPRU-INV 5.8, unless the firm has a Part 4A permission for acting as trustee or depositary of a UK UCITS2. .
For a firm that has a Part 4A permission for acting as trustee or depositary of a UK UCITS2, own funds has the meaning in article 4(1)(118) of the UK CRR3.
Liquid capital
- (a)
A firm must calculate its liquid capital in accordance with IPRU-INV 5.8.
- (b)
In addition to the above, a firm whose permitted business includes establishing, operating or winding up a personal pension scheme must comply with:
- (i)
the requirements in relation to the realisability of liquid capital found in Note 2 of IPRU-INV 5.9.1R; and
- (ii)
the limitation in respect of Item 14 of IPRU-INV 5.8.2R, not to include net trading book profits in the firm’s liquid capital calculation.
- (i)