The UK Investment Firm Prudential Regime (IFPR) will take effect on January 1, 2022. This will have a significant impact on UK MiFID II investment firms and CPMIs, who should start considering the likely impact of the new prudential regime and the adjustments that will be required to their internal systems and controls. The starting point for such firms is to collect all relevant data in order to assess their classification under the new regime. Another important point is whether the shift in the prudential capital framework creates an opportunity for a change in business strategy and approach.
IFPR: Impact helps you to manage each step of your internal implementation project. It provides a high level summary of the draft “Prudential sourcebook for MiFID Investment Firms“ (MIFIDPRU), as well as any consequential amendments to other FCA sourcebooks.
To find out more, please get in touch with a member of the team.
IFR/IFD: The new prudential regime for MiFID II investment firms
Set to take effect in Europe on 26 June 2021 and in the UK on 1 January 2022, the Investment Firm Regulation (IFR) and the Investment Firm Directive (IFD) will make significant changes to the framework governing investment firms authorised under the revised Markets in Financial Instruments Directive (MiFID II).
Latest blog posts
FCA updates webpages for IFPR
On 27 July 2021, the FCA updated its webpages on authorisation for wholesale investment firms and capital requirements permissions.
Implementation of the Investment Firms Prudential Regime
On 26 July the Financial Conduct Authority (FCA) published policy statement 21/9, which enacts the much anticipated implementation of the Investment Firms Prudential Regime (IFPR).
Implementation of Investment Firms Prudential Regime
On 29 June 2021, the FCA published Policy Statement 21/6: Implementation of Investment Firms Prudential Regime (PS21/6).
Consultation response to the implementation of the IFPR and Basel 3 standards
On 22 June 2021, HM Treasury issued the response to its February 2021 consultation that outlined how the Government was intending to exercise its powers under the Financial Services Act 2021 (Act) to ensure the effective implementation of the Investment Firms Prudential Regime (IFPR) and the outstanding Basel 3 standards.