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    AMP slams rivals over capital requirements

    AMP slams rivals over capital requirements

    Financial services firm AMP has claimed that at least 12 of its rivals have breached requirements on the minimum level of capital they should hold to satisfy city regulators.

    Author Date published October 15, 2002 Categories

    Link: For more companies news

    The move comes as a response to revelations that UK firm Pearl, which AMP owns, has failed to meet the Financial Services Authority’s funding threshold for several months.

    AMP is currently in discussion with the FSA over how to bring its funds back to levels above the statutory minumum, according to Andrew Mohl, AMP’s chief executive. Mohl did however mention that several of its competitors were in ‘a similar or worse predicament.’

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