ACA's response to the FCA's initial views on Discussion Paper 20/2: Prudential requirements for MiFID investment firms (DP20/2)
In Discussion Paper 20/2: Prudential requirements for MiFID investment firms (DP20/2), the FCA sets out its initial views as well as (some) technical details on the implementation of a revised prudential regime for UK investment firms.
The Investment Firms Prudential Regime (IFPR) is due to be implemented in January 2022. This proposed new prudential regime heralds a long overdue re-calibration of the capital adequacy rules and is set to be a key regulatory theme for the next 12 months.
Download our whitepaper for a summary of the FCA’s opening salvo, drawing out the key themes and underscoring some open questions, all of which we hope will assist firms as they begin to consider how the changes may affect them.