The Capital Requirements Directive (CRD), implemented in the UK by the Financial Services Authority through the Prudential Sourcebook for Banks, Building Societies and Investment Firms, sets out the regulatory capital requirements firms must adhere to. Those requirements are based on three 'Pillars'. Pillar 1 is a formulaic calculation of the minimum capital requirement, Pillar 2 is a risk based internal assessment of capital requirements which is subject to regulatory review by the FSA, and finally Pillar 3 sets out the disclosure requirements regarding capital which a firm must comply with. This document sets out the information necessary for Share plc, as the parent company of The Share Centre Limited and Sharefunds Limited (both regulated entities), to meet those disclosure requirements. It details both the capital requirements of the Group and the capital resources of the Group. The document is approved by the Board of Share plc and is updated at least annually. This version was approved on 28 February 2011.
