Pillar 3 Disclosure Statement
|
|
- Abner James
- 5 years ago
- Views:
Transcription
1 Pillar 3 Disclosure Statement 1 BACKGROUND From the beginning of 2014, the new Capital Requirements Directive 4 ( CRD 4 ) and the Capital Requirements Regulation ( CRR ) came into effect, replacing the Capital Requirements Directive ( CRD ). Whilst they primarily represent the implementation of Basel 3 in the EU they also introduce a number of broader regulatory framework changes not provided for under the previous Basel proposals. The new CRR rules by virtue of being directly applicable across the EU, remove a significant number of national discretions from the current CRD. Whilst the new legislation includes enhanced requirements for the quantity and quality of capital the broader principles of the holding of capital ( own funds ) remain the same with three key pillars: è Pillar 1 sets out the minimum capital requirements to meet credit, market and operational risk è Pillar 2 requires firms (and their regulators) to consider whether additional capital should be held to cover risks not adequately covered by the Pillar 1 requirements through the Internal Capital Adequacy Assessment Process ( ICAAP ); and è Pillar 3 requires firms to publish certain details of their policies for managing risk and their capital resources. This encourages market discipline by developing a set of disclosure requirements which will allow market participants to assess key pieces of information on a firm s capital, risk exposures and risk assessment process. The disclosures are to be made public for the benefit of the market. In the UK, CRD was implemented by the Financial Conduct Authority (FCA) through the publication of the Prudential Sourcebook for Investment Firms (IFPRU). Subsequent amendments to CRD introduced additional Pillar 3 disclosure requirements in respect of remuneration. 2 SCOPE OF THIS STATEMENT Octopus Capital Limited is a UK consolidation group consisting of four firms regulated by the FCA: Octopus Investments Limited, Octopus Healthcare Adviser Limited, Rednel Limited and Octopus AIF Management Limited (Not subject to the CRD). For regulatory capital purposes, Octopus Capital Limited is subject to consolidated supervision by the FCA. Unless specifically stated, the disclosures that follow relate to the Octopus Capital Limited group ( Octopus or the group ). This statement is for the financial year ended 30 April 2016, is based on Octopus s current UK ICAAP formally adopted by the Board and meets the disclosure requirements of Chapter 11 of BIPRU. This Pillar 3 disclosure is based on the fully consolidated statement of the capital position of the group at a key point in time (normally the financial year end). The regulatory requirements and risk exposures are therefore backward looking.
2 3 CAPITAL REQUIREMENTS AND RESOURCES The Pillar 1 capital requirement is the greater of (i) the Fixed Overhead Requirement and (ii) the sum of Market and Credit risk requirements. Both of these measures are calculated in accordance with criteria set by the FCA. The Group s Pillar 1 capital requirement is determined by its Fixed Overhead Requirement (FOR), calculated in accordance with Genpru 2.1 and relates to 3 months of the Group s annual expenditure less certain variable items such as discretionary bonuses and fee commission. Expenditure is monitored monthly in the management accounts and the FOR is monitored quarterly to ensure it remains appropriate to the size and nature of the Group. The Pillar 2 requirement is based on an assessment of Octopus s business, operational and other risks. This is known as the Individual Capital Adequacy Assessment Process ( ICAAP ). The process involves considering the most significant risks and assessing whether additional capital should be held against those risks. In addition, as part of the ICAAP, Octopus performs stress and scenario analysis to project the financial impact of various risk events and assess the group s ability to mitigate the impact of these risks. These include, for example, considering how the group would cope with the loss of a significant part of the business and revenue downturns. As required by the FCA, Octopus also performs an analysis to consider the capital required to complete an orderly wind down of its regulated activities. The ICAAP is an integrated part of Octopus s risk management framework, and is updated at least annually or more frequently if material internal or external factors make it prudent to do so. The ICAAP is considered in detail by the Octopus Management Committee and is formally approved by the Board. The Capital Resource Requirement ( CRR ) of Octopus Capital Limited ( Octopus ) is calculated as 17,297k. Octopus Group Consolidated Capital Pillar 1 ICAAP - Pillar 2 Requirements Minimum Capital k Firm s Additional Pillar 2 Capital k (a) Limited License Min Req (b) Consolidated Credit Risk (8% of Risk Weighted Exposure Amounts) (c) Consolidated Market Risk (8% of Risk Weighted Asset Values) 10,484-4,071 - (d) Total Credit + Market Risk (b+c) 14,555 - (e) Fixed Overhead Req. 16,247 - Pillar 1 Total Requirement (Higher of d and e) 16,247 - Pillar 2 Total Requirement (additional capital held for operational risk not covered by Pillar 1) - 1,050 Total Pillar 1 and Pillar 2 Capital Requirement 17,297
3 Octopus maintains an internal buffer of a further 30% on the Pillar 1 capital requirement, taking our capital requirement to 22,171k. The Group held regulatory capital of 143,429k after deductions as at 30 th April 2016 (Tier 1 capital is the highest ranking form of capital and includes permanent share capital and reserves). Octopus Group Consolidated Capital Resources 000s (a) Permanent Share Capital 920 (b) Profit and loss and other reserves 176,417 Total Tier 1 Capital (a+b) 177,337 Deductions from own funds (33,908) Total Own Funds 143,429 Consolidated Capital Resource Requirement 17,297 Surplus 126, RISK MANAGEMENT The above capital requirements are deemed sufficient for the following key risks: Credit Risk Capital Requirement The Credit Risk element comprises the credit risk capital component which reflects the risk that the Group is unable to realise the cash value of its assets or has to pay out an off-balance sheet liability. It is calculated based on the standardised approach using 8% of the risk weighted exposure amounts. This has been estimated at 10,484k and is adequately covered by current capital levels. The credit risk is monitored monthly through the management accounts which are reviewed by the Management Committee. Debtors are managed monthly through an aged debtors report and are collected in a timely manner. Consolidated Credit Risk by Exposure Class 000s a) Institutions 1,306 b) Corporates 7,930 c) Other items 1,248 Total Consolidated Credit Risk Capital Component 10,484
4 Market Risk Capital Requirement The firm does not have any trading book however it does have significant Investment in Associate positions on its own account in the non-trading book. These assets have limited direct or immediate correlation with the broader equity markets but the value does reflect the Groups holding in equity instruments. Our assessment of an appropriate risk weighting is 150% based on the relative illiquidity countered by the fact that the fair value exceeds the book value. The risk that the group is unable to realise the cash value of its assets has been estimated at 4,071k and is adequately covered by current capital levels. Operational Risk Capital Requirement As a limited license firm we are not required to calculate an operational risk capital requirement under Pillar 1. However, operational activities are fundamental to the successful running of the Group and one of our key risks is operational risk. We have undertaken scenario and sensitivity analysis and have concluded that we will hold 1,050 as Pillar 2 capital as an addition to the Pillar 1 Capital requirements. This equates to c.30% of total Pillar 1 capital. Counterparty and concentration risk Octopus has the choice of holding its cash at a number of strong, well established banks. The majority of cash is held with an Institution offering a high credit rating and a well-capitalised balance sheet. Liquidity risk Octopus holds sufficient cash to meet its liquidity needs. Cash flow forecasts are performed and reviewed monthly and cash is reconciled daily. Sufficient cash is held daily in a current account, with excess funds held in a monthly deposit account according to cash flow forecasts at the time. Liquidity risk is considered and the systems and controls reviewed annually as part of the ICAAP process. 5. REMUNERATION Decision-making process for remuneration policy On behalf of the Board, the Remuneration Committee is responsible for approving and overseeing the implementation of Octopus s remuneration policy. This includes ensuring that the group s remuneration arrangements are consistent with, and promote sound and effective risk management and do not encourage excessive risk taking. The Committee also reviews and approve the remuneration of those employees that have been identified by the policy as being within the scope of the requirements of the FCA s Remuneration Code ( Code Staff ). Employees are considered to be code staff if their role has a material impact in determining the Group s risk profile. The Octopus Group s Code Staff are defined as the Executive Director s and other employees performing FCA Significant Influence Functions (SIFs) and a record is maintained by the Organisational Development team. The link between remuneration and performance Remuneration is comprised of fixed pay (salary and benefits) and variable pay (performance-related bonuses). Performance related bonuses are designed to reflect performance in individual roles and success against a balanced range of targets. A proportion of variable pay is deferred each year.
5 Aggregate remuneration for Code Staff Octopus is required to disclose the aggregate remuneration of Code Staff. For the year ending 30 April 2016 the annual remuneration was 12.7m. This is comprised of fixed pay, variable pay, non-contributory pension and benefits in kind in accordance with the rules. Octopus considers that it does not operate with distinct business areas given its position as a UK focused fund management business and therefore the aggregate information on remuneration is disclosed for the Group as whole. Due to the limited number of Code Staff within Octopus, the group considers it appropriate to disclose aggregate remuneration across all Code Staff so as not to prejudice individuals with regard to disclosure of personal information.
Pillar 3 Disclosure November 2016
Pillar 3 Disclosure November 2016 1 1. Overview 1.1 Background This document comprises the Capital and Risk Management Pillar 3 disclosures as at 30 September 2016 for River and Mercantile Group PLC and
More informationNeptune Investment Management Limited ( Neptune or the Company ) Pillar 3 Disclosures 2013
Neptune Investment Management Limited ( Neptune or the Company ) Pillar 3 Disclosures 2013 Approved by the Board of Neptune on 25 th April 2014-1 - Contents 1. Overview 2. Risk Management Objectives and
More informationRSMR Portfolio Services Limited RSMR-PS Pillar 3 Disclosure
RSMR Portfolio Services Limited RSMR-PS Pillar 3 Disclosure 1 Introduction Firms are required under the Senior Management Arrangements, Systems and Controls (SYSC) manual of the Financial Conduct Authority
More informationFCA Pillar 3 Disclosure
FCA Pillar 3 Disclosure Introduction Regulatory Context Evoia Capital LLP ( Evoia or the Firm ) is incorporated in the UK and authorised and regulated by the Financial Conduct Authority ( FCA ). As such,
More informationPillar 3 Disclosure and Policy. Stenham Asset Management (UK) Plc. ( The Firm )
Pillar 3 Disclosure and Policy Stenham Asset Management (UK) Plc. ( The Firm ) May 2017 The following information is provided pursuant to the Pillar 3 disclosure rules as laid out by the Financial Conduct
More informationPillar 1 sets out the minimum capital resource requirement firms are required to maintain to meet credit, market and operational risks
Gresham House Asset Management Limited Pillar 3 Disclosure 1 Introduction Firms are required under the Senior Management Arrangements, Systems and Controls (SYSC) manual of the Financial Conduct Authority
More informationNeptune Investment Management Limited ( Neptune or the Company ) Pillar 3 Disclosures 2017
Neptune Investment Management Limited ( Neptune or the Company ) Pillar 3 Disclosures 2017 Approved by the Board of Neptune on 26 th June 2018-1 - Contents 1. Overview 2. Risk Management Objectives and
More informationCBRE Clarion Securities UK Limited PILLAR 3 RISK DISCLOSURES April 2017
CBRE Clarion Securities UK Limited PILLAR 3 RISK DISCLOSURES April 2017 1. Introduction The Capital Requirements Directive (CRD) sets out regulatory capital adequacy standards and an associated supervisory
More informationValu-Trac Investment Management Limited Pillar 3 Disclosure
Valu-Trac Investment Management Limited Pillar 3 Disclosure The Capital Requirements Directive (CRD) of the European Union created a revised regulatory capital framework across Europe governing how much
More informationKKR Capital Markets Limited. Pillar 3 Disclosures
KKR Capital Markets Limited Pillar 3 Disclosures June 2017 1. Background The European Union Capital Requirements Directive sets out the regulatory framework governing the amount of capital which must be
More informationIngenious Capital Management Limited: Pillar III Disclosure
CONTENTS 1. Introduction 2. Risk Management 3. Capital Resources 4. Internal Capital Adequacy Assessment Process (ICAAP) 5. Remuneration Policy Disclosure 1. INTRODUCTION 1.1 Scope of Application Ingenious
More informationBAILLIE GIFFORD. Governance, Risk Management and Capital Disclosures ( Pillar 3 ) June 2017
BAILLIE GIFFORD Governance, Risk Management and Capital Disclosures ( Pillar 3 ) June 2017 Contents Introduction and Context 3 Purpose of Disclosures Scope Basis of Preparation Governance Arrangements
More informationPillar 3 Disclosures. Invesco UK Limited
s Document Version: Version 1 Version Date: 30 July 2014 Table of Contents 1 Background 3 1.1 Basis of Disclosure 3 1.2 Frequency of Disclosure 4 1.3 Media and Location of Publication 4 2 Risk Management
More informationPILLAR 3 DISCLOSURES MERCER UK AUGUST 2016
PILLAR 3 DISCLOSURES MERCER UK AUGUST 2016 CONTENTS 1. Background... 1 1.1 Basis of Disclosures... 2 1.2 Frequency of Publication... 2 1.3 Verification... 2 1.4 Media & Location of Publication... 2 2.
More informationBAILLIE GIFFORD. Governance, Risk Management and Capital Disclosures ( Pillar 3 ) June 2018
BAILLIE GIFFORD Governance, Risk Management and Capital Disclosures ( Pillar 3 ) June 2018 Contents Introduction and Context 3 Purpose of Disclosures Scope Basis of Preparation Governance Arrangements
More informationBARINGS REAL ESTATE ADVISERS FINANCE LLP PILLAR 3 & ASSOCIATED REGULATORY DISCLOSURES MARCH Page 1 of 6
BARINGS REAL ESTATE ADVISERS FINANCE LLP PILLAR 3 & ASSOCIATED REGULATORY DISCLOSURES MARCH 2016 Page 1 of 6 1. INTRODUCTION The Capital Requirements Directive ( CRD ) created a revised regulatory capital
More informationPIMCO Europe Ltd Pillar 3 Disclosure. As at 31 December 2015
Pillar 3 Disclosure As at 31 December 2015 1. Introduction PIMCO Europe Ltd ( PEL ) is a company incorporated under the laws of England and Wales on 24 April 1991, and authorized and regulated by the Financial
More informationChina International Capital Corporation (UK) Limited Pillar 3 Disclosure In respect of Financial Year Ended 31 December 2016
Pillar 3 Disclosure December 2016 China International Capital Corporation (UK) Limited Pillar 3 Disclosure In respect of Financial Year Ended 31 December 2016 1. Overview Capital Requirements Regulation
More informationPillar 3 Disclosure for the year ended 31 December 2017
Pillar 3 Disclosure for the year ended 31 December 2017 William Blair International, Limited Registration No: 03619027 Overview William Blair International, Limited ( WBIL ) is authorised and regulated
More informationPillar 3 As at 31st March 2011
Pillar 3 As at 31 st March 2011 Purpose of Disclosure This document sets out the Pillar 3 market disclosures for Threadneedle Asset Management Holdings an authorised and regulated limited license firm
More informationPILLAR 3 DISCLOSURE POLICY
PILLAR 3 DISCLOSURE POLICY Part 1. Overview of the Disclosure requirements 1.1 Introduction The European Union Capital Requirements Directive (EU CRD) was introduced in January 2007 to ensure consistent
More informationCapital Requirements Directive Pillar 3 Disclosure
Capital Requirements Directive Pillar 3 Disclosure Contents: Contents 1. Introduction... 2 2. Scope and Application of Directive Requirements... 2 3. Risk Management Objectives and Policy... 4 4. Key Risk
More informationRynda Property Investors LLP (the Firm )
Rynda Property Investors LLP (the Firm ) Disclosure Statement under Pillar III as at 30 th June 2018 Contents 1. Overview 2. Risk Management Objectives and Policies 3. Capital Resources 4. Capital Adequacy
More informationPillar 3. Partners Group (UK) Ltd. As at 31/12/16
Pillar 3 Partners Group (UK) Ltd As at 31/12/16 1. Pillar 3 Disclosure 2. Executive Summary 3. Risk Management Objectives, Policies and Governance 4. Own Funds and Capital Adequacy 5. Remuneration 1. PILLAR
More informationPillar 3 Disclosure 2017
Pillar 3 Disclosure 2017 Background The Capital Requirements Directive (CRD) of the European Union establishes a regulatory capital framework across Europe governing the amount and nature of capital credit
More informationPillar 3 Risk Disclosure Statement AS OF DECEMBER 2016
Pillar 3 Risk Disclosure Statement AS OF DECEMBER 2016 1 INTRODUCTION The Pillar 3 disclosures relate to Dimensional Fund Advisors Ltd. ( DFAL ), a 100% owned subsidiary of Dimensional Fund Advisors LP
More informationGZC Investment Management Limited. Disclosure under Pillar 3 of Capital Requirements Directive. Date: March 2015
GZC Investment Management Limited Disclosure under Pillar 3 of Capital Requirements Directive Date: March 2015 GZC Investment Management Limited ( the Firm ) is authorised and regulated by the Financial
More informationHenderson Rowe Limited. Pillar 3 Disclosures. Henderson Rowe has a year end of the 30 th June 2016
Henderson Rowe Limited Pillar 3 Disclosures Henderson Rowe has a year end of the 30 th June 2016 The following report covers the period from 1 st July 2015 to 30 th June 2016 1. Introduction This report
More informationFirst State Investments (UK Holdings) Ltd
First State Investments (UK Holdings) Ltd Pillar 3 disclosures For the year ended 30 June 2016 Contents 1. INTRODUCTION... 3 2. SCOPE OF APPLICATION... 4 2.1 Group structure... 4 2.2 FSI Corporate Structure...
More informationPillar 3 disclosures. Macquarie Infrastructure and Real Assets (Europe) Limited March 2016
Pillar 3 disclosures Macquarie Infrastructure and Real Assets (Europe) Limited March 2016 Macquarie Infrastructure and Real Assets (Europe) Limited Pillar 3 Disclosures March 2016 macquarie.com This page
More informationPILLAR 3 DISCLOSURE 31ST December 2013
PILLAR 3 DISCLOSURE 31 ST December 2013 1 BIPRU 11 Pillar 3 disclosure Background The Capital Requirements Directive ( CRD ), which represents the European Union s implementation of the Basel II Accord,
More informationHenderson Rowe Limited. Pillar 3 Disclosures. Henderson Rowe has a year end of the 30 th June 2014
Henderson Rowe Limited Pillar 3 Disclosures Henderson Rowe has a year end of the 30 th June 2014 The following report covers the period from 1 st July 2013 to 30 th June 2014 1. Introduction This report
More informationICAAP Pillar 3 Disclosure
ICAAP Pillar 3 Disclosure This document is for professionals only Contents A1.1 Introduction 3 A1.2 Risk Framework 4 A1.3 Material Risks 6 A1.4 Capital Resources 8 A1.5 Capital Requirements 9 A1.6 ICAAP
More informationApollo Management International LLP Pillar 3 Disclosures
Apollo Management International LLP Pillar 3 Disclosures The Capital Requirements Directive ( CRD ) (Directive 2013/36/EU) and the Capital Requirements Regulation ( CRR ) (Regulation (EU) No 575/2013)
More informationPILLAR 3 REGULATORY DISCLOSURES REPORT AS AT 30 NOVEMBER 2017 LEUCADIA INVESTMENT MANAGEMENT LIMITED
PILLAR 3 REGULATORY DISCLOSURES REPORT AS AT 30 NOVEMBER 2017 LEUCADIA INVESTMENT MANAGEMENT LIMITED CONTENTS 1 OVERVIEW AND BASIS OF PREPARATION OF THE PILLAR 3 DISCLOSURES... 1 1.1 Business Background...
More informationT. Rowe Price International Ltd. Pillar 3 & Remuneration Code Disclosure. 31 December 2016
T. Rowe Price International Ltd Pillar 3 & Remuneration Code Disclosure 31 December 2016 Background: The Capital Requirements Directive ( CRD ) sets out the regulatory capital framework for Europe based
More informationRedburn (Europe) Limited Pillar 3 Disclosures
REDBURN PILLAR 3 DISCLOSURES 30 SEPTEMBER 2017 Important Notice On 20 September 2017, the FCA approved a variation in regulatory permissions requested by Redburn (Europe) Limited (the Company ), such that
More informationAshmore Group plc Pillar 3 Disclosures as at 30 June 2015
Ashmore Group plc Pillar 3 Disclosures as at 30 June 2015 1.0 Overview The purpose of this document is to outline the Pillar 3 disclosures for the Ashmore Group (the Group). The disclosures on risk management
More informationCitigroup Global Markets Limited Pillar 3 Disclosures
Citigroup Global Markets Limited Pillar 3 Disclosures For the quarter ended 30 September 2016 Table of Contents 1. Overview... 3 2. Risk Management... 4 3. Key Metrics for CGML as at 30 September 2016...
More informationPillar 3 disclosures 3I GROUP PLC. As at 31 March 2018
Pillar 3 disclosures 3I GROUP PLC As at 31 March 2018 1. Overview The Capital Requirements Directive ( CRD ) and the Alternative Investment Fund Managers Directive ( AIFMD ) established a regulatory capital
More informationStifel Nicolaus Europe Limited. Pillar 3 Disclosures As at 30 September 2015
Stifel Nicolaus Europe Limited Pillar 3 Disclosures As at 30 September 2015 Contents 1. Overview 1.1 Introduction 1.2 Basis and frequency of disclosure 1.3 Location 1.4 Verification 2. Corporate Background
More information11 FSA019 Pillar 2 questionnaire
11 FSA019 Pillar 2 questionnaire This data, supplemented by other relevant data, will be used to inform the intensity of our risk assessment of a firm, or its group, under the Supervisory Review and Evaluation
More informationMarketAxess Limited Pillar 3 Disclosure
Introduction MarketAxess Limited Pillar 3 Disclosure MarketAxess Limited ( MAL or the Group ) is a private limited company incorporated in England and Wales. MAL became a consolidated supervision group
More informationCapital Requirements Directive IV Framework Introduction to Regulatory Capital and Liquidity. Allen & Overy Client Briefing Paper 1 January 2014
Capital Requirements Directive IV Framework Introduction to Regulatory Capital and Liquidity Allen & Overy Client Briefing Paper 1 January 2014 2 CRD IV Framework: Introduction to Regulatory Capital and
More informationAshmore Group plc Pillar 3 Disclosures as at 30 June 2018
Ashmore Group plc Pillar 3 Disclosures as at 30 June 2018 Table of Contents 1. OVERVIEW 3 1.1 BASIS OF DISCLOSURES 1.2 FREQUENCY OF DISCLOSURES 1.3 MEDIA AND LOCATION OF DISCLOSURES 2. CORPORATE GOVERNANCE
More informationM&G Group Pillar 3 Disclosures
M&G Group Pillar 3 Disclosures As at 31 December 2016 Page 1 of 24 CONTENT 1 Overview 4 1.1 Introduction 4 1.2 M&G overview 4 1.3 Disclosure policy 5 1.4 Accounting consolidation 5 1.5 Prudential consolidation
More informationCRD for investment firms New Horizons. Caroline Beck and Jackie Domanska Thursday 17 th March
CRD for investment firms New Horizons Caroline Beck and Jackie Domanska Thursday 17 th March Contents 1. Introduction 2. The prudential journey since the 1990s 3. Background to the European review 4. New
More informationCapital and Risk Management Pillar 3 Disclosures
Capital and Risk Management Pillar 3 Disclosures For Year Ended 31 st December 2016 Contents 1. Introduction... 3 1.1 Background... 3 1.2 Scope... 3 1.3 Frequency of Disclosure... 4 2. Key Measures & Ratios...
More informationCitadel Europe LLP. Pillar 3 disclosures for the year ended 31 December 2014
Section Index 1. Introduction: Pillar 3 2. BIPRU 11.5.1 Risk management framework and policies 3. BIPRU 11.5.3 Capital resources 4. BIPRU 11.5.4 Overall Pillar 2 rule 5. BIPRU 11.5.8 Credit risk 6. BIPRU
More informationCrown Agents Investment Management Limited. Pillar 3 Disclosures. December 2014
Crown Agents Investment Management Limited December 2014 Page 0 CONTENTS Introduction... 2 Corporate Governance... 3 Risk Appetite... 7 Capital Resource... 9 Capital Management... 10 Risk Categories...
More informationCanaccord Genuity Wealth Limited Canaccord Genuity Financial Planning Limited. Pillar Three Disclosures
Canaccord Genuity Wealth Limited Canaccord Genuity Financial Planning Limited Pillar Three Disclosures CONTENTS 1. Overview 1.1 Background 1.2 Basis of disclosure 1.3 Frequency of disclosure 1.4 Location
More informationPillar 3 Disclosure. LJ Capital Limited. 26 th March P a g e
LJ Capital Limited Pillar 3 Disclosure 26 th March 2018 1 P a g e 1. Overview LJ Capital Limited, (LJ Capital) is a part of the group of companies which are owned or controlled by LJ GP Partnership Limited
More informationKing & Shaxson Group Pillar 3 Disclosures 2016
1. Introduction 1.1 Background The European Union Capital Requirements Directive ( CRD ) established a regulatory framework for capital adequacy across the European Union. CRD was replaced by the Capital
More informationFIDANTE PARTNERS EUROPE LIMITED. Pillar III Disclosure. 30 June 2017
FIDANTE PARTNERS EUROPE LIMITED Pillar III Disclosure 30 June 2017 Fidante Partners Europe LimitedPillar III Disclosure 30 June 2017 Fidante Partners Europe Limited ( Fidante Partners Europe or the Firm
More informationMORGAN STANLEY SMITH BARNEY HOLDINGS (UK) LIMITED AS AT 31 DECEMBER 2013
MORGAN STANLEY SMITH BARNEY HOLDINGS (UK) LIMITED AS AT 31 DECEMBER 2013 Disclosure (UK) TABLE OF CONTENTS 1. BASEL II ACCORD... 2 2. BACKGROUND TO PILLAR 3 DISCLOSURES... 2 3. APPLICATION OF THE PILLAR
More informationRISK PROFILE DISCLOSURE Pillar 3 Capital Requirements Directive
RISK PROFILE DISCLOSURE Pillar 3 Capital Requirements Directive Northern Trust Holdings Limited (incorporating Northern Trust Global Services Limited) June 2012 CONTENTS 1 Overview 1 2 Location and Frequency
More informationCAPITAL REQUIREMENTS DIRECTIVE PILLAR 3 DISCLOSURE DOCUMENT
CAPITAL REQUIREMENTS DIRECTIVE PILLAR 3 DISCLOSURE DOCUMENT 31 ST MARCH 2014 CONTENTS Paragraph Introduction 1-6 Risk Management Objectives and Policies 7-23 Capital Resources 24-26 Capital Adequacy Assessment
More informationBATH BUILDING SOCIETY
BATH BUILDING SOCIETY Pillar 3 Disclosure Document Index Page 1. Introduction 3 2. Risk management policies and objectives 5 3. Main Board and committee structure 10 4. Capital resources and capital ratios
More informationVanguard Asset Services, Limited and subsidiaries (together the Vanguard UK consolidated group )
Vanguard Asset Services, Limited and subsidiaries (together the Vanguard UK consolidated group ) Pillar 3 disclosures based on Vanguard UK s audited and consolidated financial statements as at 31 st December
More informationPILLAR 3 DISCLOSURES. As at December avivainvestors.com
As at December 2014 avivainvestors.com Contents Abbreviations and glossary of terms 3 1. Introduction 4 1.1 Overview 4 1.1.1 Introduction 4 1.1.2 Basis of disclosures 4 1.1.3 Frequency of disclosures 4
More informationCitadel Securities (Europe) Limited
Pillar 3 Disclosures 31 December 2017 Contents 1. Introduction... 2 2. Risk management framework... 3 3. Governance arrangements... 5 4. Risk exposure overview... 6 5. Capital resources... 8 6. Capital
More informationCitadel Securities (Europe) Limited
Pillar 3 Disclosures 31 December 2016 Contents 1. Introduction... 2 2. Risk management framework... 3 3. Risk exposure overview... 5 4. Capital resources... 7 5. Capital resources requirements... 8 6.
More informationPillar 3 Disclosures. 31 December 2013
Pillar 3 Disclosures 31 December 2013 Contents 1. Overview... 3 1.1 Background... 3 1.2 Scope of application... 3 1.3 Basis and frequency of disclosures... 3 1.4 External audit... 3 2. Risk Management
More informationT. Rowe Price International Ltd. Pillar 3 & Remuneration Code Disclosure. 31 st December 2017
T. Rowe Price International Ltd Pillar 3 & Remuneration Code Disclosure 31 st December 2017 Background: The Capital Requirements Directive ( CRD ) sets out the regulatory capital framework for Europe based
More informationOtkritie Capital International Limited. Pillar 3 disclosures for the year ended 31 December,
Otkritie Capital International Limited Pillar 3 disclosures for the year ended 31 December, 2014 www.otkritie.com Contents 1. Overview... 3 2. Business Model... 3 3. Risk overview... 3 4. Capital base...
More informationDARLINGTON BUILDING SOCIETY CAPITAL REQUIREMENTS DIRECTIVE
DARLINGTON BUILDING SOCIETY CAPITAL REQUIREMENTS DIRECTIVE PILLAR 3 DISCLOSURE DOCUMENT AS AT 31 st DECEMBER 2016 CONTENTS Section Title 1 Introduction 2 Risk Management Objectives and Policies 3 Capital
More informationMAINFIRST BANK AG. BASEL III Pillar 3 - Disclosures as at. 31 December 2014
MAINFIRST BANK AG BASEL III Pillar 3 - Disclosures as at 31 December 2014 BASEL III PILLAR 3 - DISCOSURES AS AT 31 DECEMBER 2014 1 INTRODUCTION GENERAL The main purpose of this document is to set out MainFirst
More informationPillar 3 Disclosure. CVC Credit Partners Limited For year ended 31 Dec 2015
CVC Credit Partners Limited For year ended 31 Dec 2015 Pillar 3 Disclosure Table of Contents 1. Introduction 3 2. Risk Management Policies 4 3. Risk Management Function 5 4. Capital Resources 6 5. Integration
More informationSEI Investments (Europe) Limited Pillar 3 Disclosure
SEI Investments (Europe) Limited Pillar 3 Disclosure June 2018 Table of Contents 1. Overview 1.1. Introduction 1.2. Purpose of Pillar 3 1.3. Frequency of Disclosure 2. Structure of SEI 3. Capital Resources
More informationMondrian Investment Partners Limited Fifth Floor, 10 Gresham Street, London EC2V 7JD Authorised and regulated by the Financial Conduct Authority
Mondrian Investment Partners Limited Fifth Floor, 10 Gresham Street, London EC2V 7JD Authorised and regulated by the Financial Conduct Authority M O N D R I A N I N V E S T M E N T P A R T N E R S L I
More informationDARLINGTON BUILDING SOCIETY CAPITAL REQUIREMENTS DIRECTIVE
DARLINGTON BUILDING SOCIETY CAPITAL REQUIREMENTS DIRECTIVE PILLAR 3 DISCLOSURE DOCUMENT AS AT 31 st DECEMBER 2018 Contents 1 Introduction 2 Risk Management 3 Capital 4 Credit Risk (Mortgages) 5 Provisions
More informationMizuho Securities UK Holdings Ltd Basel III Pillar 3 Disclosures 31 March 2015
Mizuho Securities UK Holdings Ltd Basel III Pillar 3 Disclosures 31 March 2015 Mizuho Securities UK Holdings Ltd Bracken House One Friday Street London EC4M 9JA Telephone +44 (0) 20 7236 1090 Mizuho Securities
More informationPillar 3 Disclosures
Pillar 3 Disclosures 31 December 2017 Contents 1. Introduction: Pillar 3... 2 2. BIPRU 11.5.1 - Risk management objectives and policies... 3 3. BIPRU 11.5.3 - Capital resources... 5 4. BIPRU 11.5.4 - Compliance
More information1. Introduction Process for determining the solvency need The basis for capital management Risk identification...
Contents Page 1. Introduction...3 2. Process for determining the solvency need...4 2.1 The basis for capital management...4 2.2 Risk identification...4 2.3 Danske Bank s internal assessment of its solvency
More informationCapital Requirements Directive. Pillar 3 Disclosures
Capital Requirements Directive Pillar 3 Disclosures For the year ended 31 August 2016 INDEX Page INTRODUCTION 2 RISK MANAGEMENT POLICIES AND OBJECTIVES 3 CAPITAL ADEQUACY ASSESSMENT, CAPITAL RESOURCES
More informationBrewin Dolphin Holdings PLC
Brewin Dolphin Holdings PLC Pillar 3 Disclosures 2017 TABLE OF CONTENTS 1. Executive Summary... 3 2. Company Overview... 3 3. Regulatory Framework... 4 4. Scope of Application... 5 5. Frequency of Disclosure...
More informationCAPITAL REQUIREMENTS DIRECTIVE Pillar 3 Disclosure Document 2015 (As at 28 th February 2015)
CAPITAL REQUIREMENTS DIRECTIVE Pillar 3 Disclosure Document 2015 (As at 28 th February 2015) Contents 1. Introduction... 1 2. Risk management objectives and policies... 2 2.1 Principal risks and uncertainties...
More informationPillar 3 Regulatory Disclosure (UK)
Pillar 3 Regulatory Disclosure (UK) As at 30 June 2017 Approved by the Board 12 December 2017 THE UK CAPITAL CONSOLIDATION REGULATED GROUP, INCLUDING: PRAEMIUM ADMINISTRATION LTD (FRN 463566) SMART INVESTMENT
More informationFINANCIAL STATEMENTS
COMPANY REGISTRATION NUMBER 05540630 FINANCIAL STATEMENTS 31 MARCH 2015 FINANCIAL STATEMENTS CONTENTS PAGE Strategic report 1 Directors' report 2 Independent auditor's report to the shareholders 8 Profit
More informationPillar 3 Disclosures Year ended 31 st December 2017
Pillar 3 Disclosures Year ended 31 st December 2017 1 Contents 1. Introduction 3 2. Board and Committee structure 3 3. Capital resources 4 4. Capital requirements 4 5. Key risks 5 6. Directors 9 2 1. Introduction
More informationSainsbury s Bank plc. Pillar 3 Disclosures for the year ended 31 December 2008
Sainsbury s Bank plc Pillar 3 Disclosures for the year ended 2008 1 Overview 1.1 Background 1 1.2 Scope of Application 1 1.3 Frequency 1 1.4 Medium and Location for Publication 1 1.5 Verification 1 2 Risk
More informationKnight Capital Europe Limited. Capital Requirements Directive Pillar 3 Disclosure Statement 31 December 2012
Knight Capital Europe Limited Capital Requirements Directive Pillar 3 Disclosure Statement 31 December 2012 1 Index Background 3 Knight Capital Group Consolidation 3 Definition of Capital Resources and
More informationDISCLOSURE UNDER PART 8 CAPITAL REQUIREMENTS REGULATION (CRR) PILLAR 3 DECEMBER 2016
DISCLOSURE UNDER PART 8 CAPITAL REQUIREMENTS REGULATION (CRR) PILLAR 3 DECEMBER 2016 31 ST December 2016 1 Contents 1. Introduction... 3 2. Scope and application of the Requirements... 4 4. Location of
More informationCapital & Risk Management Pillar 3 Disclosures
Capital & Risk Management Pillar 3 Disclosures 31st December 2017 Company Registration no. 06736473 Contents Introduction...3 Activities and Scope...3 Regulatory framework for disclosures...4 Basis and
More informationCrown Agents Bank Limited. Pillar 3 Disclosures
Crown Agents Bank Limited Pillar 3 Disclosures 31 December 2016 1 CONTENTS 1. Introduction... 4 1.1 Background... 4 1.2 Frequency, Location, and Verification... 4 1.3 Scope of Disclosures... 5 1.4 Summary
More informationArtorius Wealth Management Limited - Pillar III Disclosure
Artorius Wealth Management Limited - Pillar III Disclosure Regulatory capital and risk management Alfred Simmons Investment Management Limited became regulated in August 2015 following a change in legal
More informationCrown Agents Bank Limited. Pillar 3 Disclosures
CONTENTS 1. Introduction... 3 2. Governance arrangements... 5 3. Risk Appetite... 11 4. Capital Resources... 12 5. Capital management... 15 6. Credit Risk... 16 7. Market Risk... 24 8. Interest rate risk...
More informationAshmore Group plc Pillar 3 Disclosures as at 30 June 2016
Ashmore Group plc Pillar 3 Disclosures as at 30 June 2016 Table of Contents 1. OVERVIEW 3 1.1 BASIS OF DISCLOSURES 1.2 FREQUENCY OF DISCLOSURES 1.3 MEDIA AND LOCATION OF DISCLOSURES 2. CAPITAL RESOURCES
More informationTD BANK INTERNATIONAL S.A.
TD BANK INTERNATIONAL S.A. Pillar 3 Disclosures Year Ended October 31, 2013 1 Contents 1. Overview... 3 1.1 Purpose...3 1.2 Frequency and Location...3 2. Governance and Risk Management Framework... 4 2.1
More informationPension obligation risk: treatment in the Internal Capital Adequacy Assessment Process (ICAAP) for banks and building societies
Supervisory Statement LSS6/13 Pension obligation risk: treatment in the Internal Capital Adequacy Assessment Process (ICAAP) for banks and building societies April 2013 Supervisory Statement LSS6/13 Pension
More informationDARLINGTON BUILDING SOCIETY CAPITAL REQUIREMENTS DIRECTIVE
DARLINGTON BUILDING SOCIETY CAPITAL REQUIREMENTS DIRECTIVE PILLAR 3 DISCLOSURE DOCUMENT AS AT 31 st DECEMBER 2017 Contents 1 Introduction 2 Risk Management 3 Capital 4 Credit Risk (Mortgages) 5 Provisions
More informationCapital Requirements Directive Pillar 3 Disclosure. June 2017
Capital Requirements Directive Pillar 3 Disclosure June 2017 1. Background The purpose of this document is to outline the Pillar 3 disclosures for BlueBay Asset Management LLP ( LLP ). LLP is a subsidiary
More informationNUMIS SECURITIES LIMITED
NUMIS SECURITIES LIMITED Capital, Risk Management, Governance and Remuneration Disclosures 2016 (Pillar 3) 1 1 Overview 1.1 Introduction The following disclosures are prepared in accordance with the Capital
More informationNotification of the Bank of Thailand No. FPG. 12/2555 Re: Regulations on Supervision of Capital for Commercial Banks
Unofficial Translation This translation is for the convenience of those unfamiliar with the Thai language Please refer to Thai text for the official version -------------------------------------- 1. Rationale
More informationOtkritie Capital International Limited. Pillar 3 disclosures for the year ended 31 December,
Otkritie Capital International Limited Pillar 3 disclosures for the year ended 31 December, 2016 www.otkritie.com Contents 1. Overview... 3 2. Business Model... 3 3. Risk overview... 3 4. Capital resources...
More informationPILLAR 3 Disclosures
PILLAR 3 Disclosures Published April 2016 Contacts: Rajeev Adrian Sedjwick Joseph Chief Financial Officer Chief Risk Officer 0207 776 4006 0207 776 4014 Rajeev.adrian@bank-abc.com sedjwick.joseph@bankabc.com
More informationGoldman Sachs Group UK Limited. Pillar 3 Disclosures
Goldman Sachs Group UK Limited Pillar 3 Disclosures For the period ended September 30, 2017 TABLE OF CONTENTS Page No. Introduction... 2 Capital Framework... 5 Regulatory Capital... 6 Risk-Weighted Assets...
More informationPRA RULEBOOK CRR FIRMS INSTRUMENT 2013
PRA RULEBOOK CRR FIRMS INSTRUMENT 2013 Powers exercised A. The Prudential Regulation Authority (the PRA ) makes this instrument in the exercise of the following powers and related provisions in the Financial
More informationNucleus Financial Group plc. Nucleus 2018 Pillar 3 disclosure
Financial Group plc April 2019 Contents Introduction 3 Financial Group overview 3 Risk management 4 Risk assessment and identification 4 Principal risks 5 Risk appetites 5 Market risk appetite 5 Liquidity
More informationITrade Global (CY) Ltd Regulated by the Cyprus Securities and Exchange Commission License no. 298/16
Regulated by the Cyprus Securities and Exchange Commission License no. 298/16 DISCLOSURE AND MARKET DISCIPLINE REPORT FOR 2017 April 2018 Contents 1. INTRODUCTION 3 1.1. THE COMPANY 4 1.2. REGULATORY SUPERVISION
More information