Regulation  

How to prepare your firm for the IFPR deadline

  • Explain what firms should be focusing on in the run up to IFPR
  • Identify how firms will be classified
  • Describe the new liquidity requirements
CPD
Approx.30min

Get ready for the IFPR set-up questionnaire

The FCA will be sending out an IFPR set-up questionnaire to all firms within the scope of the IFPR this autumn. 

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Although it is not yet published, we expect this questionnaire will ask for key information to allow the FCA to update its systems and set up reporting schedules.

The regulator is likely to ask for information about the membership and composition of the group, where firms are in a group structure; the firm’s expected IFPR status (SNI firm or non-SNI firm); and the date the firm expects to submit its first ICARA report 

Taking the actions outlined will help firms make sure they are prepared to answer the FCA’s questions when they arrive. 

Jane Greenwood is compliance policy consultant at Threesixtyservices 

CPD
Approx.30min

Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. How much of a firm's FOR must be held in core liquid assets?

  2. What is the implementation date of the IFPR?

  3. Which prudential categories will cease to exist?

  4. How many years will firms have to get their funds to the required level?

  5. ICARA is an internal risk-management process

  6. When must a firm apply to the FCA if it wishes to use the GCT?

Nearly There…

You have successfully answered all the questions correctly, well done!

You should now know…

  • Explain what firms should be focusing on in the run up to IFPR
  • Identify how firms will be classified
  • Describe the new liquidity requirements

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