FCA releases new Prudential Regime for Investment Firms (IFPR) consultation paper

On 14 December 2020, the Financial Conduct Authority (FCA) published its first of three Consultation Papers on the new UK Prudential Regime for Investment Firms (UK IFPR).

FourthLine has summarised the key highlights from this 342 page  Consultation Paper 1 (CP1) document into a new free Insights Deck  with content including:

  • The regulatory roadmap for further consultation, policy statements, and near-final rules ahead of the 1 January 2022 go-live date
  • Key changes, clarifications and confirmations between the June 2020 Discussion Paper and Consultation Paper 1
  • Considerations for firms as projects are outlined, stood-up and progressed
  • How FourthLine can support your programme through consulting services, resourcing and recruitment, and training

Download our new Insights deck here where we summarise the key highlights of the first of three UK IFPR Discussion Papers.

For any questions on the above or to set up a no-obligations call with our Risk Consulting Director, Ross Molyneux, please click on the link below:

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Topics: Featured, Investment Management, Prudential regime

December 15, 2020
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Ross Molyneux
Written by Ross Molyneux

Ross leads our Risk Consulting proposition and specialises in risk management and regulation. He has worked extensively across non-financial and financial risk management engagements in his time in consulting in both the UK and New Zealand. After starting his early career in industry working across different financial services institutions, Ross moved into consulting in 2011 with Deloitte, primarily leading and performing financial risk engagements including capital adequacy, liquidity, credit risk, and recovery and resolution planning. Following time in Aviva’s Internal Audit function, Ross moved to help build EY’s North of the UK extended assurance practice, leading and performing a range of engagements across both financial and non-financial risk, including extensive engagement with large banks, asset managers and investment firms as they continued to face into the challenges of revisions to existing regulation and new requirements, such as the Senior Manager & Certification Regime (SMCR). In 2017 Ross made the decision to spend time overseas, joining KPMG New Zealand’s Auckland Consulting practice. Joining as an Associate Director, Ross was quickly promoted to Director and co-led the firm’s response to emerging conduct and culture challenges arising from the Australian Royal Commission (ARC) and new operational resilience requirements arising from the Reserve Bank of New Zealand’s (RBNZ) Outsourcing Policy. Working with a range of entities since being in New Zealand, Ross has led engagements ranging from internal audit co-source support to preparing entities for acquisition through ensuring they meet licensing conditions via uplifts of frameworks and policies. Choosing to return home in 2020, Ross is looking forward to supporting FourthLine’s clients as they face into current and future risk and regulatory challenges.