Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.


Status: This chapter was amended on 31 December 2020 as a result of Brexit. However, it is subject to the FCA Prudential Transitional Direction, which means that firms should not comply with these provisions yet. Instead, firms must follow this link and continue to comply with pre-IP completion day requirements https://www.handbook.fca.org.uk/handbook?date=31-12-2020&timeline=True (unless specified otherwise in the Direction). To see a full list of Handbook modules affected, please see Section B of the Annex to the Direction.

IPRU-INV 5.2 General requirement

Adequacy of financial resources

IPRU-INV 5.2.1RRP

1A firm must at all times have available the amount and type of financial resources required by the rules in this chapter.

Basic requirement

IPRU-INV 5.2.2RRP

A firm must ensure that, at all times, its financial resources are not less than its financial resources requirement.

Financial resources

IPRU-INV 5.2.3RRP

A firm's financial resources means:

  1. (a)

    its own funds, if the firm is subject to an own funds requirement under IPRU-INV 5.4.2R2; or

  2. (b)

    its liquid capital, if the firm is subject to a liquid capital requirement under IPRU-INV 5.4.1R.