Financial Services (Investment and Fiduciary Services)
FINANCIAL SERVICES (CAPITAL ADEQUACY OF INVESTMENT FIRMS) REGULATIONS 2007
does not normally exceed EUR 15 million;
never exceeds 6% of its total business and its total trading-book
positions never exceed EUR 20 million.
(3) For the purposes of sub-regulation (2)(a) and (c), the Authority may refer either to the size of the combined on- and off-balance-sheet business, to the profit and loss account or to the own funds of the investment firm, or to a combination of those measurements.
When the size of on- and off-balance-sheet business is assessed–
debt instruments shall be valued at their market prices or their principal values;
equities shall be valued at their market prices; and
derivatives shall be valued according to the nominal or market values of the instruments underlying them;
and permitting long positions and short positions to be aggregated regardless of their signs.
For the purposes of sub-regulation (4) long
(6) An investment firm which exceeds either or both of the limits imposed–
in sub-regulation (2)(a) and (b); or
in sub-regulation (2)(c);
shall meet the requirements imposed in sub-regulation (1)(a) in respect of its trading-book business and shall inform the Authority accordingly as soon as reasonably practicable.
15.(1) For the purposes of paragraph 14 of Schedule 1, a 0% weighting may be assigned to debt securities issued by the entities listed in table 1 of Schedule 1, where these debt securities are denominated and funded in sterling.
(2) Notwithstanding the requirements of paragraphs 13 and 14 of Schedule 1, specific risk requirements for any bonds falling within paragraphs 69 to 70 of Part I of Schedule 6 of the FSCACI Regulations may be taken as equal to
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Repealed Subsidiary 2007/002