FCA says Investment Firm Prudential Regime will require individual disclosure

Comes into effect 1 January 2022

The Financial Conduct Authority (FCA) has said in its final policy statement on the UK Investment Firm Prudential Regime (IFPR) that disclosures for the regime will be required on an individual entity-level basis.

The IFPR comes into effect 1 January 2022 and will create a single prudential regime for all FCA investment firms. It is a replacement of the EU's Investment Firm Directive, and Investment Firm Regulation. In the responses received for the final IFPR consultations in August, most favoured disclosure either being made on a consolidated basis or allowing firms the choice. However, the FCA chose to force firms to mandatory individual disclosure, adding that it will also encourage firms to voluntarily disclose on a consolidated basis. FCA pours £5m into laptops in bid to ramp up hybrid...