The Financial Services Authority (FSA) has deferred the introduction of new capital rules for personal investment firms for two years to allow firms more time to prepare.
The rules were made in November 2009 (PS09/19) and were due to be phased in over two years, commencing on 31 December 2011 with the full requirements in place by end 2013.
However, the phasing in of the new rules firms will now commence on 31 December 2013 with the full requirements in place by end 2015, giving firms who need it more time to build up their capital resources to the required levels.
