Nearly two years after the original capital adequacy proposals the Financial Conduct Authority has now released their final rules.
Most people agree the new rules are a ‘watered-down’ version of those first proposed:
Many SIPP providers, although not all will have to reserve far less capital than they originally thought
UK commercial property, as well as other assets such as UK bank accounts, will now be treated as ‘standard assets’
The surcharge for taking in ‘non-standard’ assets will now be based on the number of SIPPs managed rather than the value of assets