The exemption provided for in paragraph 2(a)(iv) (BN 2018 of 2012) will fall away next month. This applies specifically to a person who conducts financial services related business with a Private Equity Fund.
In other words, a Cat II FSP that renders financial services to private equity funds, only, must as from 1 July 2016 “maintain liquid assets equal to or greater than 8/52 weeks of annual expenditure”.
