Investment Firm Prudential Regime (IFPR) support

Prepare a robust prudential programme ahead of 1 January 2022 deadline.

Coming into force on 1 January 2022, the Investment Firm Prudential Regime (IFPR) directly impacts any group that owns an FCA authorised firm that provides MiFID investment services and activities - regardless of their location.  

The proposed new prudential rules introduce more complex and onerous capital, liquidity, reporting and governance requirements for affected firms - many will be hit with requirements to maintain significantly greater levels of capital. 

With the IFPR countdown clock ticking, it’s critical that impacted firms make a start on their implementation of the new requirements. 

Our Solutions

Our experienced prudential team are on hand with a wide range of solutions designed to you implement and maintain your IFPR obligations.  These include:  

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Understanding the new rules

The FCA has already published one Discussion Paper and two consultation papers on IFPR, to be followed by a third consultation paper and a final policy statement.

Rooted in a firm grasp of the detail and underlying objectives of the new regime, our IFPR Implementation Planner and other briefing documents boil these requirements down to the essential details.

Compliance Managed Services
Implementing the changes

We will take you step-by-step through embedding the changes into your financial control and compliance frameworks.  

This will include documentation such as the new ICARA and regulatory reporting formats, revised remuneration policies, plus supporting compliance and monitoring collateral. Our aim is to support you through the changes, while causing minimal disruption to your business. 

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Regulatory Reporting

We offer a comprehensive reporting solution that addresses all your FCA obligations on an on-going basis. 

We also offer ICARA services as well as transparency or Annex IV reporting solutions, all of which can be built into a package of compliance review services. 

Learn more

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IFPR by the numbers

Polls conducted during ACA’s European Regulatory Horizon virtual conference in March 2021 found that:

State of readiness

4%

said they are ready and capitalised for the IFPR.

Biggest challenge

49%

feel compliance systems and resources, including the drafting of new procedures, are the most impactful area of the regime.

Greatest impact

29%

29% see increased capital requirements as having the greatest impact.

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The UK’s Investment Firm Prudential Regime

13 Key Considerations for Successful Implementation

The Investment Firm Prudential Regime (IFPR) directly impacts any group that owns an FCA authorised firm that provides MiFID investment services and activities. 

Time is ticking for firms to get their programmes in place. Download our checklist to find out top tips to address your obligations, ahead of the 1 January 2022 deadline.

Our team

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James Pont

Principal Consultant

James Pont is responsible for prudential reporting services, including regulatory reporting and support with ICAAPs/ICARAs and IFPR. James is a chartered accountant, who qualified with the ICAEW.

Bobby Johal

Bobby Johal

Managing Director, UK Regulatory Compliance

Bobby Johal is responsible for regulatory implementation projects, supporting clients on regulatory challenges, such as MiFID II, IFPR and other prudential matters, EMIR, Brexit, Libor, AIFMD marketing, and SM&CR.

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James Andrews

Managing Director

James is responsible for providing technical input across a range of complex regulatory topics and specialises in supporting hedge funds.

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The role of the Money Laundering Reporting Officer (MLRO) is a mandatory position in all firms in the Financial Services Industry. This reflects the statutory objective that the Regulator(s) have for ensuring that firms behave with “Integrity”, particularly relating to financial crime prevention. The MLRO therefore plays a significant role in assisting Senior management to ensure that systems and controls relating to anti-money laundering (AML) and countering the risk of terrorist financing (CTF) are appropriate and effective. This course provides practical advice and guidance on the responsibilities of the MLRO, what is expected by the Regulators, both of the Senior Management and the MLRO, and how those responsibilities can be achieved. It should be noted that attendance at this course does assume a good knowledge of the UK’s AML/CTF regulations.

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Senior Management Obligations under the SM&CR - 1 December 2021

The ever-increasing focus by the Regulators on the accountability of senior management, particularly when things go wrong, emphasises how important it is for individuals in senior positions to have a clear understanding of what is expected of them. This succinct course is designed to assist Senior Managers to have a full understanding of what they need to do to achieve compliance with the rules under the obligations created by the Senior Managers and Certification Regime (SMCR).

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