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IFPR implementation observations: quantifying threshold requirements and managing financial resources.

by Alex Hackett, Business Development Manager

News article from the Financial Conduct Authority, 09/03/2023, https://www.fca.org.uk/publications/multi-firm-reviews/ifpr-implementation-observations

Magnifying glass on data analysis | Front cover IFPR implementation observations

News article from the Financial Conduct Authority, 09/03/2023, https://www.fca.org.uk/publications/multi-firm-reviews/ifpr-implementation-observations

The Investment Firms Prudential Regime (IFPR) is the new prudential regime for MiFID Investment firms. The IFPR and the corresponding prudential standards under MIFIDPRU began on 1 January 2022.

To support firms as they adapt to the new prudential standards, the Financial Resilience Department (FRD) are carrying out a multi-firm review on IFPR implementation. The aim of this review is to assess the progress of firms in adopting the new regulatory regime, including how they undertake their adequate financial resources assessment. The review supports the FCA’s commitment to help firms reduce and prevent serious harm.

FRD published the initial observations from the first part of this review to assist firms in understanding and meeting the requirements and enhancing their processes.

Most firms engaged well in the FCA’s review and progress has been made in understanding the requirements of the new regime. The review highlighted some areas for firms to improve on including improving the quality and cohesiveness of assessments firms make when assessing harm from their activities and the financial resources required to mitigate these harms, better quality wind-down planning, and more accurate regulatory reporting.

Please read the FCA’s initial observations

Author: Alex Hackett, Business Development Manager

Alex is a member of the investment funds team. She is involved in the portfolio construction process and assists with regulatory reporting, trade surveillance and monitoring.

Author: Alex Hackett, Business Development Manager

Alex is a member of the investment funds team. She is involved in the portfolio construction process and assists with regulatory reporting, trade surveillance and monitoring.

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