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On December 14, the UK’s Financial Conduct Authority (FCA) published its first consultation paper on the implementation of the Investment Firms Prudential Regime (IFPR) (CP20/24) with its proposal for the UK’s new regulatory capital/ prudential rules following the end of the Brexit transition period (the Consultation Paper).

The FCA intends to create a new Prudential sourcebook for Markets in Financial Instruments Directive (MiFID) Investment Firms (MIFIDPRU).
Continue Reading UK Regulatory Capital/Prudential Rules: FCA Publishes First Consultation on Implementation of IFPR

On November 16, the UK’s HM Treasury, Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) jointly published a statement on the introduction of the new Investment Firms Prudential Regime (IFPR) and the UK implementation of Basel standards reflecting the CRR II Regulation (the Statement).
Continue Reading Regulatory Capital – UK Authorities Jointly Publish Statement on New UK Prudential Rules

On February 19, the UK’s Financial Conduct Authority (FCA) published a “Dear CEO” letter that it recently sent to IFPRU investment firms and BIPRU firms (as defined below) concerning the quality of information submitted to the FCA in prudential regulation returns.
Continue Reading FCA Publishes “Dear CEO” Letter on Quality of Prudential Regulation Returns