The Investment Firm Prudential Regime (IFPR) will be impacting all UK investment firms authorised under MIFID from the 1st of January 2022.
The regime brings in changes to Classification (SNI or non-SNI), Own Funds and Liquid Resource Requirements and the ICARA Process (the new name for the ICAAP).
Complyport hosted a webinar, Implementing IFPR – A detailed review of the ICARA preparation process, on the 1st of December at 10:00am. The aim of this webinar was to discuss the new prudential regulation for investment firms with a particular focus on the ICARA process.
During this webinar, we:
• Discussed IFPR and key regulatory changes
• Assessed new Prudential requirements
• Considered how to prepare and implement ICARA, with specific on;
- Minimum Requirements, Thresholds Requirements and Overall Financial Adequacy Rule (OFAR)
- Approach to risk and prudential assessment
- Wind-down planning
- Own funds and Liquidity Requirements (stress testing)
- Consolidation – Group ICARA
- Key components of the report
- Reporting and notification
