IFPR: CP20/24 Proposed Rules

Date: 19 January 2021

Format: Recorded Webinar

Webinar recorded on 19th January 2021

The Financial Conduct Authority (FCA) released its first consultation paper (CP20/24) in a series of three on 15 December 2020, which leads up to the introduction of the IFPR in January 2022.

On 19 January 2021, we held our first webinar in a series of three hosted by Harpartap Singh, Osita Egbubine and Gary Paulus. The webinar specifically examined the CP20/24 explaining how IFPR will affect different types of firms and the actions you should be taking now to prepare for the changes.

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Background

The FCA was consulting about the proposed rules to introduce the UK Investment Firms Prudential Regime (IFPR). IFPR was introduced ad a new prudential regime for UK firms authorised under the Markets in Financial Instruments Directive (MiFID). The aim is to streamline and simplify the prudential requirements for solo-regulated investment firms in the UK. The proposed rules mean new requirements in respect of capital, liquidity, governance, risk management, remuneration and regulatory reporting.

The FCA published three consultation papers to introduce the regime and we hosted a webinar about each consultation paper. You can find more information and recordings of these webinars on our events page.

What this webinar covered

Following the discussion paper issued on 23 June (DP20/2) the FCA released the first of three consultation papers on 15 December 2020, the others being scheduled for Q2 and Q3 of 2021. The webinar will help you to understand and interpret the consultation paper: