The post below was first published on our FSR and Corporate Crime blog.
With just four months to go until the start of the Investment Firms Prudential Regime (IFPR) on 1 January 2022, the FCA has recently published policy statements to its first two consultations on the IFPR, PS21/6 and PS21/9. Published in June and July 2021, respectively, the policy statements summarise the feedback on the earlier consultations, CP20/24 and CP21/7, and set out the FCA’s response and near-final rules. The FCA also published its (third and) final consultation paper on the IFPR, CP21/26, on 6 August 2021. The final policy statement and rules will be published in Q4 2021.
We have prepared two briefings covering various aspects of the IFPR:
- A Guide to FCA Policy Statements and Final Consultation on IFPR, which sets out a combined topic area overview of the two policy statements, with brief commentary highlighting selected points of interest, followed by a summary overview of CP21/26. The full briefing is available here.
- A Guide to the MIFIDPRU Remuneration Code for UK Investment Firms, which sets out details of the remuneration provisions of PS21/9 and how these will apply to different categories of UK investment firms. The full briefing is available here.