FSA is consulting on guidance on the approach regulated firms should take when working out their capital requirements in relation to defined benefit schemes they operate for the benefit of current and former employees. FSA has produced the draft in the form of letters to the three main industry associations: the Association of British Insurers, the British Bankers' Association (intending it to cover banks and investment firms) and the Building Societies Association. It asks for comments on the draft by 15 March. (Source: Pension obligation risk and ICAS/ICAAP)