PDCOB 13.1 Application and purpose
General application
1Subject to PDCOB 13.1.2R, this chapter applies to firms with a Part 4A permission for regulated pensions dashboard activity.
1This chapter does not apply to a PRA-authorised person.
Purpose
- (1)
1The purpose of PDCOB 13 is to set out the detailed prudential obligations that apply to regulated pensions dashboard activity.
- (2)
Adequate financial resources are necessary for the effective management of prudential risks. The rules in this chapter therefore impose requirements relating to the financial resources of a firm to which this chapter applies.
- (3)
The rules concern the adequacy of the financial resources that a firm needs to hold in order to be able to meet its liabilities as they fall due (the general solvency requirement). These resources include both capital and liquidity resources.
- (4)
The rules also place a core capital resources requirement on a firm to which this chapter applies.