IFPR Checklist

Posted on: 25 November 2021

Written by: Jonathan Aseervatham

There are only 37 days to New Year’s Day - the date by which affected firms must have implemented the changes needed to meet the regulatory obligations of the new Investment Firms Prudential Regime (IFPR).

It’s important to make urgent progress as IFPR introduces significant and complex new obligations in areas that include capital, liquidity, governance, risk management, remuneration and regulatory reporting. To help firms assess their current position, we have produced this simple IFPR Checklist:

12 IFPR IMPLEMENTATION STEPS	TICK WHEN COMPLETE
1. Check that you are in scope of IFPR
2. Decide if you are part of prudential consolidation group. Can you apply the GCT?
3. Confirm your classification (are you an SNI or not?)
4. Calculate your own funds and core liquid assets
5. Calculate your new own funds and liquidity requirements
6. If you are an Non-SNI, calculate the relevant K-factors
7. Update your capital and liquidity management monitoring processes
8. Put into place concentration risk monitoring processes
9. Work out your remuneration code category (basic/standard/extended)
10. Update risk management framework to integrate your ICARA assessment process
11. Update your wind-down plan
12. Prepare for the new prudential reporting

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If you're unsure of the requirements in any area you can view our three webinars on our IFPR Resources page or you can send a question to us and we will be happy to help you.

Visit IFPR Resources Page

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Jonathan Aseervatham

Jonathan is a Director of our Prudential team, where he specialises in helping our clients to assess their regulatory capital and liquidity requirements; to implement IFPR including developing ICARAs and wind down plans; and to assist with their regulatory reporting obligations.

Contact Jonathan