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ARTICLE · 27 SEPTEMBER 2007

Need A Hand With Your ICAAP?

Smith & Williamson
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With firms starting to focus their attention on ICAAP requirements, the FSA has published guidance documents to help those firms encountering difficulties.

United KingdomFinance and Banking

With firms starting to focus their attention on ICAAP requirements, the FSA has published guidance documents to help those firms encountering difficulties.

As we are now in the second half of 2007, BIPRU firms appear comfortable with the current Pillar 1 obligations, having experienced reporting under the transitional provisions. They are now turning their attention to implementing the full set of rules under the Capital Requirements Directive (CRD), which take effect from 1 January 2008. In accordance with this deadline, BIPRU firms need to finalise their Internal Capital Adequacy Assessment Process (ICAAP). However, it appears that a number of firms are having difficulty understanding exactly what is required.

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