FSA Issues Statement on Delay in CRD IV Implementation

The Financial Services Authority has issued a statement on the delay in the adoption of new legislation on European Union capital requirements, which is unlikely to take place in autumn 2012 as anticipated. As a result of the delays in the legislative process, it is also unlikely that the measures will be implemented by the expected date of January 1, 2013.

The FSA has confirmed that it will continue to prepare for the new provisions nevertheless, in the expectation that the legislation will follow the Basel III implementation timetable. The FSA expects all firms subject to the Capital Requirements Directive to do likewise.

View statement in full here (links externally to FSA website).