GEN 5.2.8

(1) In assessing whether an applicant has adequate and appropriate financial resources, the Regulator will consider:
(a) how the applicant will comply with the applicable provisions of PRU or PIN;
(b) the provision the applicant makes, or, if the applicant is a member of a Group, which other members of the Group make, in respect of any liabilities, including contingent and future liabilities;
(c) the means by which the applicant or, if the applicant is a member of a Group, by which other members of the Group manage the incidence of risk in connection with their business;
(d) the rationale for, and basis of, the applicant's business plan;
(e) whether the applicant's assets are appropriate given the applicant's liabilities;
(f) the liquidity of the applicant's resources;
(g) the nature and scale of the business which will be carried on by the applicant;
(h) the risks to the continuity of the services which will be provided by the applicant;
(i) the applicant's membership of a Group and any effect which that membership may have; and
(j) whether the applicant is capable of meeting its debts as they fall due.
(2) In assessing whether an applicant has adequate and appropriate non-financial resources, the Regulator will consider:
(a) the skills and experience of those who will manage the applicant's affairs;
(b) the applicant's willingness and ability to value its assets and liabilities and its resources to identify, monitor, measure and take action to remove or reduce risks as to the accuracy of such valuation;
(c) the applicant's resources to identify, monitor, measure and take action to remove or reduce risks as to its safety and soundness;
(d) the effectiveness of the applicant's business management; and
(e) whether the applicant's non-financial resources are sufficient to enable the applicant to comply with:
(i) requirements imposed or likely to be imposed on the applicant by the Regulator in the exercise of its functions; or
(ii) any other requirement in relation to whose Contravention the Regulator would be concerned for the purpose of any provision of Part 19 of the FSMR.