Related provisions for IFPRU 1.1.16
1 - 13 of 13 items.
The own funds requirement for a firm subject to IPRU-INV 5.4.2R is the higher of:(i) £4 million for a firm which is a depositary of an authorised fund, if the authorised fund is an AIF;(ia) €125,000 for a firm which is a depositary appointed in line with FUND 3.11.12R (Eligible depositaries for UK AIFs) or a UK depositary of a non-UK AIF2;(ib) for a firm which is a depositary of a UCITS scheme, the higher of:(A) the requirement calculated depending on the selected approach in
A firm must: (1) when it first becomes a collective portfolio management firm or a collective portfolio management investment firm, hold initial capital of not less than the applicable base own funds requirement (in line with IPRU-INV 11.3.1R);(2) at all times, maintain own funds which equal or exceed:(a) the higher of:(i) the funds under management requirement (in line with IPRU-INV 11.3.2R); and(ii) the amount specified in IPRU-INV 11.3.3AR2; plus 11(b) whichever is applicable
A firm must ensure that any approval by the its shareholders or owners or members for the purposes of SYSC 19A.3.44AR is carried out in accordance with the following procedure:535(1) the firm must give reasonable notice to all its shareholders or owners or members of its intention to seek approval of the proposed higher ratio;55(2) the firm must make a detailed recommendation to all its shareholders or owners or members that includes:(a) the reasons for, and the scope of, the
(1) This chapter amplifies threshold condition 2D (Appropriate resources) by providing that a firm must meet, on a continuing basis, a minimum capital resources requirement. This chapter also amplifies Principles 3 and 4 which require a firm to take reasonable care to organise and control its affairs responsibly and effectively with adequate risk management systems, and to maintain adequate financial resources by setting out a capital resources requirement for a firm according
(1) A CAD Article 22 group means a UK consolidation group or non-UK sub-group3 that meets the conditions in this rule.(2) There must be no bank, building society or2credit institution2 in the UK consolidation group or non-UK sub-group3 and any investment firm in the UK consolidation group or non-UK sub-group3 must not be subject to consolidated supervision under the UK CRR3.112(3) Each CAD investment firm in the UK consolidation group or UK sub-group3 must use the definition