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FSA publishes paper on purpose of regulatory capital

The FSA has published a paper examining the purpose of regulatory capital and the impact of its requirements on firms.

The paper written by FSA Central Policy Division&#39s Jeremy Richardson and Complex Groups Division&#39s Michael Stephenson discusses how financial firms could be placed in categories by their capital requirements.

“Some Aspects of Regulatory Capital” discusses how the FSA assesses risk profiles and looks at proposed rule alterations and the solvency margin for insurers within the EU.


Equitable Life launches pre-stakeholder plan

Equitable Life has launched its stakeholder-style pension which will include full financial advice.The Equitable 2000 personal pension plan offers a management charge of 0.9 per cent a year, just below stakeholder&#39s one per cent margin.The product will also feature no minimum contribution, no initial charge, penalty free exit and no penalties for stopping and starting […]

Fund managers shy of US

UK pension funds only allocate 1.6 per cent of their portfolio to US equities according to the final returns of the Caps performance measurement consultancy.The figures from the end of December are down 1.8 per cent from a year earlier and 4.3 per cent from five years ago, reflecting fund manager&#39s concerns about the risks […]

ABI appoints new deputy director-general

The Association of British Insurers has appointed Stephen Sklaroff as deputy director general replacing the outgoing Tony Baker.He will also be taking up the position of head of public and international affairs at the ABI.Sklaroff was previously a director in the Department of Trade and Industry&#39s energy team and head of communications in the DTI […]

US company to enter UK investment trusts market

Amerindo Investment Advisors Inc has announced plans to launch an investment trust in the UK.The fund will be the fund manager&#39s first presence in this country and will hit the market by March 15 at the latest.A minimum investment of £1,000 will be required to buy into the trust which will be available to both […]

India Election Update

What a difference six months makes. Speaking in September last year, we had warned of ‘excessive pessimism’ afflicting the market’s perception of India. Since then, responsible central bank policy from the Reserve Bank of India (RBI), alongside improving global growth, has meant that India’s macro environment is strengthening quickly. The current account deficit has shrunk, inflation is falling and the government has embarked on a heavy dose of much needed fiscal consolidation. As a result, the rupee has been one of the strongest global currencies this year while the market has touched all-time highs, rallying by more than 20 per cent (GBP) since September. This begs the question: are we now in a period of ‘irrational exuberance’? Not yet.


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