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PDCOB 13.1 Application and purpose

General application

PDCOB 13.1.1R

1Subject to PDCOB 13.1.2R, this chapter applies to firms with a Part 4A permission for regulated pensions dashboard activity.

PDCOB 13.1.2R

1This chapter does not apply to a PRA-authorised person.

Purpose

PDCOB 13.1.3G
  1. (1)

    1The purpose of PDCOB 13 is to set out the detailed prudential obligations that apply to regulated pensions dashboard activity.

  2. (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. (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. (4)

    The rules also place a core capital resources requirement on a firm to which this chapter applies.