Regulatory Alerts2020-12-11
Added · Updated
Implementation of Investment Firms Prudential Regime
The Financial Conduct Authority introduces the UK Investment Firms Prudential Regime (IFPR) for MiFID investment firms, replacing the previous Capital Requirements Directive and Regulation framework with a single prudential sourcebook (MIFIDPRU). The rules establish quantitative thresholds to categorize firms as small and non-interconnected (SNI) or non-SNI, with SNI status requiring assets under management below £1.2 billion and total annual gross revenue under £30 million. Near-final rules define own funds, capital requirements, and concentration risk metrics, with the regime expected to take effect in January 2022.
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