The current regulatory capital rules were designed for banks, making them complex and not tailored to investment firms’ business models.
These changes would reduce the volume of legal text by 70%.
This is part of the FCA’s work to make sure its rulebook works better for the UK market and to remove unnecessary burdens on firms, bolstering growth and investment.
A strategy to help support growth and underpin the continued competitiveness of the UK’s world-leading financial services.
Now the FCA proposes removing the EU-derived rules and to make them clearer and more accessible.
https://www.fca.org.uk/news/press-releases/seventy-percent-cut-capital-rules-red-tape