Personal Finance Society (PFS) chief executive Keith Richards has said a relaxation on capital adequacy (cap ad) rules amid the coronavirus outbreak could leave firms more vulnerable to unforeseen financial impact in the future.
In a column for Professional Adviser published this morning (18 March), Smith & Pinching Chartered financial planner and director Carl Lamb said the regulator could help the sector amid the Covid-19 pandemic in "two critical ways". He suggested the Financial Conduct Authority (FCA) should suspend its cap ad rules for the time being so that those firms who need to dip into their reserves can do so without falling foul of the rules when they submit their next Gabriel return. He also said there should be a commitment to no further Financial Services Compensation Scheme (FSCS) levies dur...
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