CP12/32: Implementation of the Alternative ... - BVCA admin

More documents

Recommendations

Info

FSA067 Capital adequacy - supplemental (for collective portfolio management investment firms) 1 Own funds Higher of: Higher of: 2 Funds under management requirement and 3 Fixed overheads requirement 4 + (either) Professional negligence capital requirement 5 + (or) PII capital requirement and 6 Variable capital requirement 7 Total requirement 8 Surplus / (deficit) of financial resources Liquid assets test 9 Liquid assets requirement 10 Liquid assets held 11 Surplus / deficit of liquid assets Professional indemnity insurance 12 Specify whether your firm holds additional own funds or PII in accordance with GENPRU 2.1.67R 13 If PII is held, provide the following policy details PII policy Annualised premium 1 A A B C D E F G H J K L M PII Basic information PII detailed information Insurer (from list) Start date Renewal date Currency of indemnity limits Limit of indemnity required Limit of indemnity received Single Aggregate Single Aggregate Business line (from list) Policy excess Policy exclusions
FSA067 – Capital adequacy – supplemental (for collective portfolio management investment firms) Introduction The purpose is to provide a framework for the collection of prudential information required by the FCA as a basis for its supervision activities. The data item is intended to reflect the underlying prudential requirements contained in GENPRU 2.1.63R to 2.1.74R and allows monitoring against the requirements set out there. Defined Terms Terms referred to in these notes where defined by the Companies Acts 2006, as appropriate, or the provisions of the firm’s accounting framework (usually UK GAAP or IFRS) bear that meaning for these purposes. The descriptions indicated in these notes are designed simply to repeat, summarise or amplify the relevant statutory or other definitions and terminology without departing from their full meaning or effect. · The data item should comply with the principles and requirements of the firm’s accounting framework, which will generally be UK GAAP (including relevant provisions of the Companies Acts 2006 as appropriate) or IFRS. · The data item should be completed on an unconsolidated basis. · The data item should be in agreement with the underlying accounting records. · Accounting policies should be consistent with those adopted in annual report and accounts and should be consistently applied. · Information required should be prepared in accordance with generally accepted accounting standards. · The data item should not give a misleading impression of the firm. A data item is likely to give a misleading impression if a firm wrongly omits or includes a material item or presents a material item in the wrong way. Currency You should report in the currency of your annual audited accounts i.e. in either Sterling, Euro, US dollars, Canadian dollars, Swedish Kroner, Swiss Francs or Yen. Figures should be reported in 000s. Data Elements These are referred to by row first, then by column, so data element 2B will be the element numbered 2 in column B. Own funds 1A This amount should be equal to the figure entered in element 57A of FSA003 for the same reporting period. Funds under management requirement 2A This is the base capital resources requirement plus the amount which is 0.02% of funds under management that exceeds €250,000,000, up to a maximum of €10,000,000. If the data item is not being submitted with figures specified in Euros, then the figure should be converted to the currency of the submission using the closing mid-market rate of exchange on the reporting period end date. Fixed overheads requirement 3A This is the amount calculated in accordance with GENPRU 2.1.53R. The amount should equal element 104A on FSA003 for the same Professional negligence capital requirement reporting period. 4A This is the amount of additional own funds used to cover potential liability risks arising from professional negligence in relation to AIFM activities in lieu of professional indemnity insurance, as per GENPRU 2.1.67R(1)(a).
Page 1:
Consultation Paper CP12/32 Financia
Page 4 and 5:
The Financial Services Authority in
Page 6 and 7:
CP12/32 Implementation of the Alter
Page 8 and 9:
Page 10 and 11:
Page 12 and 13:
Page 14 and 15:
Page 16 and 17:
Page 18 and 19:
Page 20 and 21:
Page 22 and 23:
Page 24 and 25:
Page 26 and 27:
Page 28 and 29:
Page 30 and 31:
Page 32 and 33:
Page 34 and 35:
Page 36 and 37:
Page 38 and 39:
Page 40 and 41:
Page 42 and 43:
Page 44 and 45:
Page 46 and 47:
Page 48 and 49:
Page 50 and 51:
Page 52 and 53:
Page 54 and 55:
Page 56 and 57:
Page 58 and 59:
Page 60 and 61:
Page 62 and 63:
Page 64 and 65:
Page 66 and 67:
Page 68 and 69:
Page 70 and 71:
Page 72 and 73:
Page 74 and 75:
Page 76 and 77:
Page 78 and 79:
Page 80 and 81:
Page 82 and 83:
Page 84 and 85:
Page 86 and 87:
Page 88 and 89:
Page 90 and 91:
Page 92 and 93:
Page 94 and 95:
Page 96 and 97:
Page 98 and 99:
Page 100 and 101:
Page 102 and 103:
Page 105 and 106:
Annex 2 List of consultation questi
Page 107:
Annex 2 November 2012 CP12/32 Imple
Page 111 and 112:
Page 113 and 114:
Page 115:
Page 118 and 119:
Page 120 and 121:
Page 122 and 123:
Page 124 and 125:
ALTERNATIVE INVESTMENT FUND MANAGER
Page 126 and 127:
Annex A Making the Investment Funds
Page 128 and 129:
Page 5 of 91 Appendix 1 (2) a descr
Page 130 and 131:
3.2.5 R An AIFM must, for each AIF
Page 132 and 133:
Page 9 of 91 Appendix 1 (6) the agg
Page 134 and 135:
Page 11 of 91 Appendix 1 (4) the id
Page 136 and 137:
[Note: article 15(1) of AIFMD] this
Page 138 and 139:
(1) a full scope UK AIFM of: (a) a
Page 140 and 141:
Page 17 of 91 Appendix 1 (b) the re
Page 142 and 143:
experienced; Page 19 of 91 Appendix
Page 144 and 145:
Page 21 of 91 Appendix 1 by the fac
Page 146 and 147:
Page 23 of 91 Appendix 1 3.11.5 G T
Page 148 and 149:
(Own funds requirement). [Note: art
Page 150 and 151:
supplements the meaning of financia
Page 152 and 153:
instruments remain in its custody;
Page 154 and 155:
supplementing this section] 4. Comm
Page 156 and 157:
Annex B Amendments to the Glossary
Page 158 and 159:
collective portfolio management fir
Page 160 and 161:
Page 37 of 91 Appendix 1 non-listed
Page 162 and 163:
BIPRU 730k firm Page 39 of 91 Appen
Page 164 and 165:
… Page 41 of 91 Appendix 1 (e) (i
Page 166 and 167:
esources only at excessive cost. Pa
Page 168 and 169:
Single Market Directive … Page 45
Page 170 and 171:
Page 47 of 91 Appendix 1 [Note: art
Page 172 and 173: Page 49 of 91 Appendix 1 7.1.7B In
Page 174 and 175: Page 51 of 91 Appendix 1 [Note: art
Page 176 and 177: [Note: paragraph 1(c) of Annex II o
Page 178 and 179: [Note: paragraph 1(k) of Annex II o
Page 180 and 181: [Note: paragraph 1(r) of Annex II o
Page 182 and 183: Page 59 of 91 (2) the fixed overhea
Page 184 and 185: Page 61 of 91 Appendix 1 amount of
Page 186 and 187: Types of investment firm: BIPRU 50K
Page 188 and 189: The following text is new and is no
Page 190 and 191: Page 67 of 91 Appendix 1 (1) at the
Page 192 and 193: Page 69 of 91 Appendix 1 so that th
Page 194 and 195: TABLE 7.4 PART I A firm must calcul
Page 196 and 197: Note consistently in respect of any
Page 198 and 199: initial capital (see item 5) if the
Page 200 and 201: Form of qualifying subordinated loa
Page 202 and 203: Annex H Amendments to the Supervisi
Page 204 and 205: Descriptio n of data item Annual re
Page 206 and 207: … Data item SUP 16.12.12R, unless
Page 208 and 209: indicated otherwise. Data item Firm
Page 210 and 211: client assets … Page 87 of 91 App
Page 212 and 213: … Data item SUP 16.12.23R, unless
Page 214 and 215: FSA066 and FSA06 are added - see fo
Page 216 and 217: Liquid assets test 32 Liquid assets
Page 218 and 219: Professional negligence capital req
Page 220 and 221: is not listed, select ‘Other’.
Page 224 and 225: PII capital requirement 5A This is
Page 226 and 227: External validations Validation Dat
Page 228 and 229: CP12/32 Implementation of the Alter
Page 230: CP12/32 Implementation of the Alter
show all

CP12/32: Implementation of the Alternative ... - BVCA admin

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?