The European Capital Requirements Directive (CAD) came into effect on 1 January 2007 and is implemented in the UK by the Financial Conduct Authority (FCA) through rules adopted by the regulator. It is a framework to implement the Basel Il Accord in the European Union, prepared by the Basel Committee on Banking Supervision. The objective of the Basel Committee was to introduce consistent capital adequacy standards and a supervisory framework The Basel Il Accord is built on three pillars:
Pillar 1: defines the rules and regulations for calculating risk-weighted assets and regulatory minimum capital requirements. These comprise: base capital resources requirements, credit risk and market risk capital requirements. and the fixed overhead requirement;
Pillar 2: addresses a firm's internal process for assessing overall capital adequacy in relation to its risks. This is also referred to as the Internal Capital Adequacy Assessment Process (ICAAP). Pillar 2 further entails the Supervisory Review and Evaluation Process (SREP); and
Pillar 3: complements Pillars I and 2 and is designed to promote market discipline by providing market participants With key information on a firm's risk exposure and risk management processes through a set of minimum disclosure requirements.
For the purpose Of this disclosure, the applicable prudential requirements are detailed in the FCA's General Prudential Sourcebook (GENPRU) and Prudential Sourcebook for Banks, Building Societies and Investment Firms (BIPRU) as at al December 2018. state street Global Advisors Limited (SSGAL) is classified as a BIPRU firm and falls outside the scope of CPD IV It is subject to the FCA's GENPRU and BIPRLJ requirements.
This website is intended for persons resident in Australia. State Street Global Advisors, Australia Services Limited ABN 16 108 671 441, AFSL Number 274900 ("SSGA, ASL") is the product issuer. State Street Global Advisors, Australia, Limited (AFSL Number 238276, ABN 42 003 914 225) (“SSGA Australia”) is the Investment Manager. The material on this website is general information only and does not take into account your individual objectives, financial situation or needs.
You should seek professional advice and consider the Product Disclosure Document (PDS) and target market determination, available at www.ssga.com, before deciding whether to acquire or continue to hold units in the Funds.
You can access our PDS online or by calling us. The offer made in our PDS is available to persons receiving the PDS within Australia and applications from outside Australia will not be accepted. Past performance is not a reliable indicator of future performance. Investing entails risks and there can be no assurance that State Street Global Advisors will achieve profits or avoid incurring losses.
Investing involves risk including the risk of loss of principal. This material should not be considered a solicitation to apply for interests in the Funds and investors should obtain independent financial and other professional advice before making investment decisions. There is no representation or warranty as to the currency or accuracy of, nor liability for, decisions based on such information. Performance quoted represents past performance, which is not a reliable indicator of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted.