Bovill: Financial services regulatory consultants

IFPR – complying with the new regime

IFPR is the Investment Firm Prudential Regime for the UK. The FCA’s aim is to streamline and simplify prudential requirements for MiFID investment firms.

But for many, it can present significant challenges, especially for smaller firms. Our resource library will help you understand, and deliver against the regulators expectations

Insights

| Insights

FCA issues feedback on first batch of ICARAs

You may have already completed your first ICARA, but it’s worth reviewing the FCA’s first batch of findings to understand how you stack up and help plan future updates. The…

| Insights

CEO letter gives brokers six weeks to review controls

The FCA’s latest ‘Dear CEO’ letter warns wholesale brokers that risk management requires continual improvement in an increasingly risky market.   The letter, sent on 11th January, details the FCA’s…

| Insights

CEO letter gives CFD providers until January to act

The FCA’s patience appears to be wearing thin when it comes to CFD firms, with its recent CEO letter threating “swift and assertive action” where it identifies harm. CFD providers…

| Insights

Last IFPR policy statement published as deadlines approach

The FCA has now published the last element of its new prudential regime which will come into effect for UK investment firms from New Year’s Day. There are a number…

| Insights

FCA authorisation post TPR: getting ahead of your landing slot

As the temporary permissions regime draws to a close, firms looking to operate in the UK permanently will need to meet the FCA’s exacting standards. Although the FCA authorisation process…

| Insights

Dear CEO letter to wealth managers and stockbrokers highlights concerns

The FCA’s latest letter to wealth management and stockbroking firms reminds CEOs that they are accountable for fostering a healthy culture and points to areas of potential harm that it…

| Publications

IFPR: the FCA’s second consultation paper explained (CP 21/7)

The FCA’s second IFPR Consultation Paper (CP) was published in Q2 2021 as promised. This time the focus of the CP is on the ICARA (the risk-based document all firms…

| Insights

IFPR – what to do now to get ahead

As we wait for the next consultation paper on the FCA’s new prudential regime, it’s not the time to be twiddling thumbs. The regulator consciously released guidance on the areas…

| Publications

IFPR: the FCA’s first consultation paper explained (CP 20/24)

The FCA’s first consultation paper on IFPR – the new prudential regime for investment firms – was published last month. One of three planned CPs, this paper focuses on the…

| Insights

What’s in store for UK financial services in 2021?

The new year may look full of uncertainty, but there are some clear themes emerging from a regulatory perspective. Regulators’ thinking will be shaped by several macroeconomic factors dominated by,…

Our events

Are you an IFPR outlier?

Are you an IFPR outlier?

With the dust settling two years into the new regime, the regulator is keeping a closer eye on those it deems ‘outliers’. In this webinar, we'll be sharing observations from our own benchmarking study and work with clients on areas still causing headaches
Pay & purpose – getting remuneration and culture right

Pay & purpose – getting remuneration and culture right

Getting remuneration right is not just about navigating codes and rulebooks, although that is both important and complex. It’s vital to see the wider purpose of your remuneration policy and how it affects your culture and customers.
IFPR one year on: Strengthening your ICARA

IFPR one year on: Strengthening your ICARA

Following our work supporting over 300 small to mid-sized firms, establishing benchmark data and incorporating the FCA’s own thematic review of larger firms, we gave practical examples and tips on best practice.
IFPR: Consolidation, remuneration and more

IFPR: Consolidation, remuneration and more

17 Jun 2021: Joined by our friends at Herbert Smith Freehills, we focused on consolidation, remuneration, K-factors and more. Slides and recording available on request.
IFPR: CP2 and your ICARA

IFPR: CP2 and your ICARA

18 May 2021: We explored some of the new concepts, including ICARA, K-Factors and Overall Financial Adequacy Rule, with practical actions you can take to get ready. Slides and recording available on request.

We can help

Our specialist prudential team work with a variety of investment firms to help with IFPR requirements across a variety of areas including:

– consolidation analysis
– capital modelling
– board training.
– ICARA templates and training
– Wind-down planning templates and support

Send us a message and a member of our team will be in touch.