The UK’s Investment Firm Prudential Regime: 13 Key Considerations for Successful Implementation

Author

Martin Lovick, James Pont

Publish Date

Type

Article

Topics

  • Compliance
  • FCA
  • Regulatory Deadlines

There are less than 150 working days until the Investment Firm Prudential Regime (“IFPR”) comes into force for all UK MiFID investment firms.

First developed by the EU and subsequently refined by the FCA, the proposed new prudential rules introduce more complex and onerous capital, liquidity, reporting and governance requirements for affected firms.

Download our checklist that captures 13 considerations for firms implementing the required changes ahead of the 1 January 2022 deadline, including:

  1. Timing
  2. Scope
  3. Proportionality
  4. Group Consolidation
  5. Own Funds
  6. Permanent Capital Requirement
  7. Fixed Overhead Requirement
  8. K Factors
  9. Liquidity
  10. Concentration Risk
  11. Remuneration
  12. The ICARA
  13. Changes to Regulatory Reporting 
     

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Our experienced prudential team are on hand with a wide range of solutions designed to help make your regulatory reporting obligations as simplified and seamless as possible. Complete this form or call +44 (0) 20 7042 0500 to connect with us.

We can help you with:

Understanding the new rules: The FCA has already published one Discussion Paper and two Consultation Papers on IFPR, to be followed shortly by a 3rd Consultation Paper and a final Policy Statement. Rooted in a firm grasp of the detail and underlying objectives of the new regime, our IFPR Implementation Planner and other briefing documents boil these requirements down to the essential details.

Implementing the changes: We will take you step-by-step through embedding the changes into your financial control and compliance frameworks. This will include documentation such as the new ICARA and regulatory reporting formats, revised remuneration policies, plus supporting compliance and monitoring collateral. Our aim is to support you through the  changes whilst causing minimal disruption to your business.

Regulatory reporting: ACA offers a comprehensive reporting solution that addresses all your FCA obligations on an on-going basis.

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