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

Headshot image of James Pont

James Pont

Principal Consultant
Bobby Johal

Bobby Johal

Managing Director, UK Regulatory Compliance
Headshot of James Andrews

James Andrews

Managing Director, UK Regulatory Compliance
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Upcoming events

Compliance Induction - 28 June 2022

Senior management in Financial Services firms have a responsibility to ensure their employees have sufficient knowledge and understanding of the Regulatory environment they are working in. This knowledge helps in emphasising the need for compliance with policies and procedures in order to protect the firm and the individual from failing to “do the right thing”.

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Using proprietary data ACA collected over the past few months, our experts will explain the current state of the cyber insurance market, walk through how policies work, and provide key considerations for whether and how to obtain insurance.

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Money Laundering Reporting Officer: The Role and Responsibilities - 29 June 2022

The role of the Money Laundering Reporting Officer (MLRO) is a mandatory position in all firms in the Financial Services Industry. This reflects the statutory objective that the Regulator(s) have for ensuring that firms behave with “Integrity”, particularly relating to financial crime prevention. The MLRO therefore plays a significant role in assisting Senior management to ensure that systems and controls relating to anti-money laundering (AML) and countering the risk of terrorist financing (CTF) are appropriate and effective. This course provides practical advice and guidance on the responsibilities of the MLRO, what is expected by the Regulators, both of the Senior Management and the MLRO, and how those responsibilities can be achieved. It should be noted that attendance at this course does assume a good knowledge of the UK’s AML/CTF regulations.

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