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13 June 2024
The UK’s Investment Firm Prudential Regime (IFPR)
On 20 December 2017 the European Commission proposed an overhaul of the prudential regime for EU investment firms. The new regime which is now set out in the Investment Firms Regulation (EU) 2019/2033 (EU IFR) and the Investment Firms Directive (EU) 2019/2034 (EU IFD) will apply from 26 June 2021. As this is after the end of the post-Brexit implementation period it will not apply in the UK. This article looks at the UK’s plans to introduce its own investment firm prudential regime (IFPR) broadly reflecting the EU IFR and IFD but tailored to the UK.
What has the UK government proposed?
The UK government announced in June 2020 its plan to legislate through the Financial Services Bill to introduce the IFPR. Like the EU IFR and IFD the IFPR will subject most investment firms to new...
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