New Prudential Regime for Investment Firms (IFPR)

The FCA is designing a new prudential framework specifically for UK MiFID firms, but influenced by the Investment Firm Regulation and Investment Firm Directive being introduced in EU member states. The UK regime has been termed the Investment Firms Prudential Regime (IFPR) and will take effect in summer 2021.

One of the key challenges for investment firms as a result of the IFPR will be the changes to how they determine the financial resources required to mitigate the risks specific to their business under Pillar 2. In this webinar PwC's David Croker (Partner and Asset and Wealth Management Risk and Regulatory Practice Leader) and Stefan Babic (Manager, Asset and Wealth Management Risk and Regulation) will discuss the FCA's proposals around the move from the Internal Capital Adequacy Assessment Process (ICAAP) to the Internal Capital and Risk Assessment (ICARA).