2021-08-05

Added 2026-06-23 · Updated 2026-07-08

PS21/17: A new UK prudential regime for MiFID investment firms

The Financial Conduct Authority issued PS21/17 to establish a new UK prudential regime specifically tailored for MiFID investment firms. This policy replaces legacy EU capital requirements with domestic rules governing capital adequacy, liquidity buffers, and governance standards calibrated to each firm's risk profile and scale. The framework aims to preserve financial stability and investor protection while reducing unnecessary compliance costs for the sector.

United Kingdom

Financial Conduct Authority

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Consultation opened Read more about Consultation opened

06/08/2021

Consultation closed

17/09/2021

Policy statement

26/11/2021

26/11/2021