Webinar: IFPR, the end of the learning curve?

How can firms take on feedback to make improvements going forward?

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The IFPR introduced a suite of changes to how firms determine their financial resource requirements from 1 January 2022 which now require firms to consider the harms they pose as result of their activities on a more holistic basis. The changes have been reflected in new reporting and disclosure requirements and the introduction of the ICARA process for all MIFID investment firms.

To ensure that they achieve ongoing compliance with the new regime, firms now have to:

• understand, in detail, the nature of their regulated activities;
• capture the right data on a periodic basis to support capital and liquidity monitoring and reporting;
• build additional rigour around their approach to identifying, assessing, and mitigating harms;
• and focus on liquidity risk and liquidity requirements.

Since the implementation of the IFPR just over a year ago, the FCA has released a number of clarifications, through the quarterly consultation process.  The regulator now expects firms’ learning curves to be over and adhering to industry best practice.

On 8th March 2023, we hosted a practical webinar looking back at the past year since implementation and offering guidance for firms on how they can optimise their processes by incorporating FCA feedback and our first-hand experience from working with clients.

Agenda

• IFPR - challenges of implementation
  • Common issues that we have found in the following areas
  • Consolidation
  • K-Factors
  • Harms Analysis
  • Liquidity
• Wind Down Planning
• Clarifications on ‘grey areas’ of the IFPR
• FCA expectations and industry ‘good’ practice
• Looking forward, what to expect

Speakers

This webinar was hosted by three members of our Prudential Services practice, Harpartap Singh, Jonathan Aseervatham and Stefan Babic:

• Harpartap Singh - Managing Director, Prudential Services
• Jonathan Aseervatham - Director, Prudential Services 
• Stefan Babic - Senior Consultant, Prudential Services

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