New UK Capital Rules Delayed Until 2022, Trailing The EU
Law360, London (November 16, 2020, 2:38 PM GMT) -- The government and financial regulators said on Monday that they will push back the implementation of new capital rules for investment companies until 2022, putting Britain six months behind its European Union counterparts.
HM Treasury, the Financial Conduct Authority and the Bank of England said in a joint statement that they plan to bring the U.K.'s prudential regime for Investment companies into force on the first day of January 2022. The rules require the businesses to maintain sufficient capital and to have adequate risk controls.
The U.K. was due to implement the rules in June 2021, at the same time as the rest...
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