Investment - Articles - Extension of 10 percent depreciation notification rule


PIMFA has welcomed the latest announcement from the FCA that it is extending existing flexibility around the 10% depreciation notification rule for a further 12 months.

 But it continues to call on the Regulator and Treasury to bring about reforms that better reflect the UK finanical services industry.

 Tim Fassam, Director of Government Policy and Relations at PIMFA commented: “The announcement today from the FCA that it is extending the flexiobility around the 10% depreciation notification rule for a further 12 months - first introduced in the wake of the Covid pandemic last year at the urging of PIMFA - is a welcome and sensible step given the impact the Omicron variant, and subsequent uncertainty it has caused, has had on markets in recent days.

 “However, we have always been of the view that the 10% depreciation rule needs further reform in the longer term. This was always a rule that had more relevance for European Union financial markets than it did for the UK and our departure from the EU presents our industry, and the FCA with an opportunity to enact reforms that better fit our own domestic markets.

 "We will continue to lobby the FCA and Treasury for changes to the UK’s domestic regulatory regime that better reflect the way our market operates.”
  

Back to Index


Similar News to this Story

Comments as inflation remains at 3.8 percent
Standard Life, Broadstone, Forvis Mazars and Wealth Club comment as the Consumer Price Index remains significantly higher than the Bank’s 2% target. N
5 reasons rising interest rates have not revived annuities
Annuities only made up 9.2% of the retirement market in 2024/25, according to data released by the FCA this week. That’s down from 10.1% in 2020/21. T
Actuarial View on Crypto Futures to Buying Bitcoin on Kraken
What do number crunchers who price insurance risk know about crypto futures? Quite a lot, actually. The same math that calculates your life insurance

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.