Regulatory Alerts2021-08-05
Added · Updated
PS21/17: Implementation of Investment Firms Prudential Regime
The Financial Conduct Authority implements the Investment Firms Prudential Regime (IFPR), establishing a single prudential framework for all solo-regulated UK MiFID investment firms that takes effect on 1 January 2022. The final rules mandate public disclosure of risk management, governance, own funds, and remuneration on an individual entity basis, while requiring the deduction of excess drawings by partners from common equity tier 1 capital. The regime removes FCA investment firms from the UK resolution scope, incorporates modified Binding Technical Standards into MIFIDPRU, and requires firms to begin collecting K-factor metrics by 1 December 2021.
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