Investment Firms Prudential Regime (IFPR) Compliance.
Supporting investment firms with practical solutions to meet ongoing IFPR requirements and expectations.
The grace period is over. The FCA now expects firms to go beyond initial efforts and show a convincing grasp of IFPR compliance. We work with you to refine and strengthen your IFPR framework, ensuring it not only passes the compliance test but also presents an accurate reflection of your business’ risks, operational realities, and growth ambitions.
From capital liquidity compliance to risk management assessments and ICARA documentation, we focus on the areas of IFPR that matter most, strengthening your long-term resilience and building confidence with clients, investors and regulators.
OVERHAUL YOUR IFPR COMPLIANCE.
Getting IFPR compliance right takes more than understanding the rules. It also relies on applying them optimally for your firm. We review your MiFIDPRU classification, analyse own funds and liquid assets and stress-test your ICARA and wind-down plans. This ensures your firm has sufficient capital to both meet IFPR requirements and to pursue growth and expand. Armed with this insight, our end to end solutions help you prepare and submit periodic regulatory reports as required under the IFPR.
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REGULATION
From robust ICARAs to meticulous wind-down plans, we tailor our IFPR reviews to your business model, ensuring every element aligns with MiFIDPRU and your unique risk profile.
RED FLAGS
We dive deep into your IFPR framework, analysing capital, liquidity and risk metrics to highlight hidden vulnerabilities and offer targeted advice to proactively prevent regulatory challenges.
RESPONSE
Underpinned by our broad IFPR expertise and deep regulatory insight, we turn complex rules into clear, practical solutions.
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FREQUENTLY ASKED QUESTIONS
Find answers to the questions we’re asked most often, from our compliance and training services to how we can support your business.
What is IFPR and who does it apply to?
The Investment Firms Prudential Regime (IFPR) is a prudential regulatory framework introduced by the FCA that applies to MiFID investment firms authorised and regulated in the UK. It replaced the previous CRD IV-based regime and introduced a new approach to capital adequacy, liquidity, and risk management for investment firms, based on the potential harm firms can cause rather than the risks they face.
What are the key requirements under IFPR?
Under IFPR, investment firms must maintain adequate own funds and liquid assets, conduct an Internal Capital and Risk Assessment (ICARA) process, submit periodic regulatory reports, and ensure their governance and risk management frameworks reflect the new prudential standards. Firms must also assess their MiFIDPRU classification and ensure their capital and liquidity requirements are calculated accordingly.
What are the most common IFPR compliance mistakes firms make?
Common IFPR compliance mistakes include inconsistencies in the ICARA process, weak wind-down plans, flawed group consolidation, and capital structures that are misaligned with risk appetite. These errors can lead to breaches of threshold requirements, raising compliance red flags and attracting FCA supervisory attention.
How has the FCA's approach to IFPR supervision evolved?
The FCA's expectations around IFPR compliance have increased significantly since the regime's introduction. Firms are now expected to go beyond initial implementation efforts and demonstrate a convincing, embedded understanding of IFPR requirements. The FCA is paying particular attention to the quality of ICARA processes, the robustness of wind-down plans, and the accuracy of regulatory reporting.
How can Cosegic help strengthen our IFPR compliance framework?
Cosegic works with investment firms to refine and strengthen their IFPR frameworks, reviewing MiFIDPRU classification, analysing own funds and liquid assets, and stress-testing ICARA and wind-down plans. Our end-to-end support ensures your firm has sufficient capital to meet IFPR requirements and pursue growth, while positioning your compliance framework to withstand regulatory scrutiny.