The IFPR: what is the impact on capital structure?
In December 2020, the FCA issued its first consultation paper (CP1) on the new UK prudential regime for MiFID investment firms – the Investment Firms Prudential Regime (IFPR). CP1’s focus is on the first batch of chapters of the prudential sourcebook for MiFID investment firms known as MIFIDPRU. In this briefing, we unpack MIFIDPRU’s third chapter and the related transitional provision on which the FCA is consulting in CP1.
In this second briefing on CP 1, we unpack MIFIDPRU’s third chapter and the related transitional provision on which the FCA is consulting in CP1. MIFIDPRU 3 will contain the “own funds” rules, in essence, the rules on the composition of a MiFID firm’s regulatory capital.
For more information on the IFPR, see our first briefing on CP1 The IFPR: what is the impact for SNI firms?, our hubpage and FAQs.
