FSA inches towards scrapping Peak I

The UK's Financial Services Authority (FSA) is getting ready to issue a consultation paper on slimming down the contentious statutory peak of how capital requirements are calculated under Pillar I, confirmed Paul Sharma, head of prudential standards in the FSA. Sharma said that the paper would probably be released in the third quarter of this year.

The insurance industry warmly welcomed the FSA's decision to open a consultation on the issue. "The problem is that the statutory peak is not

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