Pillar III Disclosures | Big Society Capital

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Pillar III Disclosures

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BSC is run by an Executive Committee which leads the five key areas of the business: investments; impact and operations; strategy and market development; finance; and communications. The Executive Committee has a quarterly Risk Management meeting to review BSC’s Strategic Risk Registers. As part of this meeting, the Executive Committee also identifies its key risks for the next quarter.

The Capital Requirements Directive (CRD) was implemented on 1 January 2007. It comprises three ‘pillars’:

i. Pillar I is the calculation of minimum regulatory capital requirements which firms are required to keep for credit, market and operation risk.

ii. Pillar II requires an Internal Capital Adequacy Assessment Process (ICAAP) by firms to assess whether additional regulatory capital should be held by the firm in addition to Pillar I based on the risks faced by the firm, the risk management processes and stress testing.

iii. Pillar III sets disclosure requirements which allow market participants to assess a firm’s capital, risk exposures and risk management processes.

In accordance with the requirements of Pillar III, this document is intended to disclose information relating to Big Society Capital Limited’s (‘BSC’) risk and control framework capital position.

The Big Society Trust is the ultimate parent company in the Big Society Group. BSC is its subsidiary. BSC is regulated by the Financial Conduct Authority (FCA).

BSC’s object is to act as a social investment wholesaler and generally to promote the development of the social investment marketplace in the UK. It also seeks to achieve and maintain financial sustainability over the longer term.

Last updated | 
31 December 2013