Secondary

loud-hailer

2012 Liquidity Exemption falls away

The exemption provided for in paragraph 2(a)(iv) (BN 2018 of 2012) will fall away next month. This applies specifically to a person who conducts financial services related business with a Private Equity Fund.

In other words, a Cat II FSP that renders financial services to private equity funds, only, must as from 1 July 2016 “maintain liquid assets equal to or greater than 8/52 weeks of annual expenditure”.

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