New prudential regime for personal investment firms

Under the new rules, all PIFs will have to hold capital resources worth at least three months of their annual fixed expenditure in realizable assets such as cash.  The minimum capital resources threshold for any firm will be set at £20,000. The transition to the new regime has been extended by a year to 31 December, 2013.

About The Author

Felix Shipkevich

Felix Shipkevich is a Manhattan-based attorney and general counsel for Shipkevich Law Firm. He has extensive experience working with the CFTC and NFA on registration, compliance, and enforcement issues for CPOs, CTAs, FCMs, IBs, and RFEDs. Felix also practices intellectual property and corporate governance law.