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FCA Handbook
Glossary
professional negligence capital requirement

professional negligence capital requirement

110(1) (in IPRU(INV) 11) an amount of own funds that a collective portfolio management firm must hold professional liability risks as set out in article 14 of the AIFMD level 2 regulation (additional own funds) (as replicated in IPRU(INV) 11.3.14EU) (Professional negligence).

(2) (in GENPRU) an amount of own funds that a collective portfolio management investment firm must hold for professional liability risks as set out in article 14 of the AIFMD level 2 regulation (additional own funds) (as replicated in GENPRU 2.1.70EU (Requirements for collective portfolio management investment firms).

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professional negligence capital requirement