City of London Group

Receipt of Total Capital Requirement Letter

The Company is pleased to announce that COLG’s subsidiary, Recognise Financial Services Limited (Recognise), has received its Total Capital Requirement Letter from the Prudential Regulation Authority (PRA), which sets out the PRA’s capital and liquidity requirements for Recognise. This is a major milestone for Recognise in its application for a banking licence.

Recognise now hopes to receive its Authorisation with Restriction as a Bank subject to completion of any final requirements from the PRA and FCA in due course. Read the full announcement here.

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