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PII capital requirement

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PII capital requirement

110(1) (in IPRU(INV) 11) an amount of own funds that a collective portfolio management firm must hold in relation to its professional indemnity insurance policy to cover any defined excess (as set out in article 15 of the AIFMD level 2 regulation (professional indemnity insurance) (as replicated in IPRU(INV) 11.3.15UK178)) and exclusions to that policy (see IPRU(INV) 11.3.16R (Professional negligence)).
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