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Novatus Global

Oct

2

2022

1- Minute Read

FCA publishes final rules on the IFPR

The FCA has published final rules on the Investment Firms Prudential Regime (“IFPR”), which are set to come into force on the 1 January 2022. These prudential requirements affect UK investment firms that undertake MiFID activities. The rules published cover the first two policy statements on the IFPR. A final and third policy statement is expected by the end of 2021.

Among other changes, the regime includes a new methodology for the calculation of capital requirements, more stringent liquid assets requirements, wider scope for prudential consolidation rules, a new remuneration code, and changes to the internal capital adequacy and risk assessment (“ICARA”). Dependent upon the complexity and size of a firm, these changes can be significant.

Novatus can assist you with the application of the IFPR, starting with a preliminary assessment of the impact of the regime on your firm and validation of categorisation as an SNI or non-SNI firm through to implementing all requirements, undertaking the ICARA, and assisting with reporting to the regulator.

You can find the final rules here.

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