Prudential Reporting Services

Simplify your regulatory reporting and prudential management obligations

Regulators continue to increase their focus on a firm’s capital monitoring and forecasting, and regulatory reporting processes. In turn, investment management and advisory organisations continue to seek expertise in regulatory oversight.

In addition, the Investment Firm Prudential Regime (IFPR) comes into force for all UK MiFID investment firms on 1 January 2022. First developed by the European Union (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.

ACA's 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.

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The UK’s Investment Firm Prudential Regime

13 Key Considerations for Successful Implementation

The Investment Firm Prudential Regime (IFPR) directly impacts any group that owns an FCA authorised firm that provides MiFID investment services and activities - 

Time is ticking for firms to get their programmes in place. Download our checklist to find out top tips to address your obligations, ahead of the 1 January 2022 deadline.

Our solutions

These services can be built into a package of compliance review services.

ICARA Services

If you are an organisations that makes discretionary investment management decisions (outside the scope of the AIFMD), you must conduct an assessment of regulatory capital held. The rules oblige your firm to:

  • Implement a formal Internal Capital and Risk Assessment ("ICARA") that is an expression of confidence that capital held is commensurate with risks faced.
  • Challenge the process annually or event-driven basis.

We can assist you with the preparation of the written ICARA Report by:

  • Quantifying the risk appetite and identifying major sources of risks
  • Documenting risk mitigation and the control environment
  • Quantifying capital requirements
  • Preparing financial forecasts and stress testing scenarios
  • Creating a wind-down plan 
Regulatory Reporting

Preparing and completing the regulatory reporting that organisations must give to regulators can be time-consuming and resource-intensive. Our prudential specialists have extensive experience with executing on this type of reporting in key jurisdictions, including the US, UK and Malta. Hundreds of financial services firms over that time have trusted ACA to file this important information.

We can assist your firm by:

  • Providing integrated regulatory advice to principals and Head Office, as required
  • Forecasting prudential resources and robust capital planning
  • Preparing and filing regulatory returns on systems provided by supervisors, including RegData in the UK reporting (all financial and prudential data items)
Transparency or Annex IV Reporting Solutions

However simple or complex your firm’s transparency reporting needs are, our regulatory and reporting team can help ease the burden of this requirement. Our transparency reporting solutions include:

  • Ad hoc advice on discrete questions relating to portfolio data or Directive interpretation
  • The review and/or challenge of in-house or administrator prepared filings
  • Full “managed service” outsourcing for EEA and non-EEA AIFMs required to report to national regulators.
IFPR Programme implementation and support

As the impending 1 January 2022 deadline gets ever closer, many firms will be hit with requirements to maintain significantly greater levels of capital.  

And with just 4% of respondents at a recent ACA poll saying they were ready and capitalised for the IFPR, some firms may find themselves under considerable pressure to prepare their programmes.

Our prudential team are on hand to help you: 

  • Understand the new rules 

  • Implement the changes  

  • Address your regulatory reporting obligations 

Learn more

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Our team

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James Pont

Principal Consultant

James Pont is responsible for prudential reporting services, including regulatory reporting and support with ICAAPs/ICARAs and IFPR. James is a chartered accountant, who qualified with the ICAEW.

Bobby Johal

Bobby Johal

Managing Director, UK Regulatory Compliance

Bobby Johal is responsible for regulatory implementation projects, supporting clients on regulatory challenges, such as MiFID II, IFPR and other prudential matters, EMIR, Brexit, Libor, AIFMD marketing, and SM&CR.

Headshot of James Andrews

James Andrews

Managing Director

James is responsible for providing technical input across a range of complex regulatory topics and specialises in supporting hedge funds.

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Majority of Firms in Breach of Transaction Reporting Requirements

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EEA Firms in the TPR: Have you Received your Landing Slot to Apply for Full Authorisation in the UK?

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News

Michael Borts joins ACA Group as the new Chief Technology Officer

Michael Borts has joined the firm as Chief Technology Officer (CTO) to lead ACA’s technology development, vision, and strategy. In his role, he will oversee all product development for ACA’s award-winning ComplianceAlpha® regulatory technology platform and technology enablement at the firm.

ACA Group Acquires Catelas to Create Industry-first 360 Surveillance Offering

The acquisition of Catelas further enhances the holistic surveillance capabilities of ACA’s RegTech platform. Catelas’ patented technology automates the mapping of how people connect and form groups within a firm, isolates collusion risk, and detects high-risk behaviors.

ACA Group and the Investment Adviser Association Announce Strategic Partnership

ACA Group (ACA), a leading provider of governance, risk, and compliance (GRC) advisory services and technology solutions, today announced that it has entered into a strategic partnership with the Investment Adviser Association (IAA), a leading organization dedicated to advancing the interests of investment advisers.

Upcoming events

Common Practices for GIPS® Compliance

ACA has gathered all the common best practices of performance teams complying to the GIPS standards and will discuss the most common question we receive from clients, "What do other firms do?"

Webcast

Compliance Officer: The Roles and Responsibilities - 21 October 2021

The role of the Compliance Officer is a mandatory position in all firms in the Financial Services Industry. They play a major role in assisting Senior Management to ensure that appropriate and effective systems and controls are in place to achieve and maintain compliance with the applicable Rules. While the nature of the Compliance Function is likely to differ from one firm to another, this course provides an easy to follow breakdown of what the Regulator expects of a Compliance Officer and explains, in practical terms how the regulatory expectations and those of Senior Management can be achieved.

Online Training