Past version: effective from 09/12/2012 - 31/12/2017
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Capital Requirement for an Authorised Firm is calculated, subject to (2), as the higher of:
(a) the applicable
Base Capital Requirement as set out in PIB section 3.6; or
(b) its Risk
Capital Requirement as set out in PIB section 3.8.
(2) Where 1(b) is the higher and the
Authorised Firm has an ICR imposed on it then the Capital Requirement is its ICR plus Risk Capital Requirement.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]