Related provisions for IPRU-INV 13.1A.4

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IPRU-INV 13.1A.3RRP
(1) A firm which is not an IMD insurance intermediary must have:(a) initial capital of EUR 50,000; or (b) professional indemnity insurance at least equal to the requirements of 13.1.11R1and 13.1.15R1 to 13.1.27R1; or (c) a combination of initial capital and professional indemnity insurance in a form resulting in a level of coverage equivalent to (a) or (b). [Note: Article 67(3) of MiFID and article 31(1) of the CRD (see also rule 13.1.11R1)](2) A2firm applying2 (b) or (c)