INMA 3.3.4 Net liquid assets requirement

(1) An INMA firm must have, at all times, net liquid assets at least equal in value to 25% of the firm's annual operating expenditure. Net liquid assets is the amount by which the total value of the firm's liquid assets exceeds the total value of its current liabilities.

Note Annual operating expenditure is defined in rule 3.3.6.
(2) If the Regulatory Authority considers that because of the nature, scale and complexity of a particular INMA firm's business, the firm should hold a greater amount of net liquid assets than is required by subrule (1), the authority may at any time require the firm to hold net liquid assets to a specified higher percentage of its annual operating expenditure.
Derived from QFCRA RM/2014-4 (as from 1st January 2015).