PII capital requirement

      1. (1) (in IPRU(INV) 11) an amount of own funds that a collective portfolio management firm must hold in relation to its professional indemnity insurance policy to cover any defined excess (as set out in article 15 of the AIFMD level 2 regulation (professional indemnity insurance) (as replicated in IPRU(INV) 11.3.15UK )) and exclusions to that policy (see IPRU(INV) 11.3.16R (Professional negligence)).
      1. [deleted]
Glossary Related Taxonomy Legal Instruments