IFPR Key Actions and Timeline
02 February 2022
The FCA's Investment Firms Prudential Regime (the "IFPR") came into force on 1 January 2022. The objective is to streamline the prudential framework for solo-regulated investment firms in the UK.
The Ashurst Financial Regulatory team has pulled together a summary timeline setting out the key upcoming deadlines for both SNI and non-SNI firms. The purpose of this summary is to provide firms with a clearer view of what is coming up and the steps you need to take under what is an incredibly complex regime that is difficult to navigate.
You can access our summary timeline by downloading the document below.
In addition to our summary timeline, we note that the FCA has confirmed its expectations regarding the first submission date for MIF007 (ICARA assessment questionnaire) in its IFPR Newsletter published on 31 January 2022. They have stated that investment firms that have informed the FCA that their first submission date is in 2022 may submit their first MIF007 in 2023 but should notify the FCA of this in the first instance (in accordance with the prescribed notification requirements).
Should you have any questions about the IFPR and the obligations relevant to your firm, please feel free to contact us.
For further information, please visit our Financial Regulation page and Finance Hub.
