Overview and recap
On 19 April 2021, the FCA published CP 21/7: ‘A new UK prudential regime for MiFID investment firms’. This Consultation Paper (CP) introduces the FCA’s second tranche of proposed rules to introduce the Investment Firm Prudential Regime (IFPR) in the UK. Firms following the progress of the reforms will recall that this latest consultation follows CP20/24: ‘A new UK prudential regime for MiFID investment firms’ (December 2020), covering the first tranche of proposed new rules, including overall scope of application of the regime, and certain components of the own funds and reporting requirements. Continue reading
In this blog post, we round-up forthcoming developments in the UK and at EU and International levels in financial services regulation which are expected for March 2021.
In this blog post, we round-up forthcoming developments in the UK and at EU and International levels in financial services regulation which are expected for February 2021. Continue reading
Following the publication of DP20/2: Prudential Requirements for MiFID Investment Firms in June 2020 (see our blog post), the FCA has now published its consultation on the new UK prudential regime for MiFID investment firms (IFPR) (CP20/24). Continue reading
On 12 November, Sam Woods (CEO of the PRA) used his Mansion House speech (the Speech) to discuss the merits of introducing a new “strong and simple” regime of prudential regulation for small banks and building societies in the wake of the UK’s exit from the EU, as well as providing some general commentary on the PRA’s post-Brexit approach.
The FCA and PRA have now both published their Consultation Papers on the implementation of the remuneration provisions of the revised Capital Requirements Directive (referred to as CRD5), which will apply in the UK and the EU from 29 December 2020. Continue reading