Prudential services

Our prudential team has the knowledge, expertise, and resource available to meet your needs. We know the regulatory rules inside out and take a practical, pragmatic, and commercial approach to every project. We do what we say we will and deliver the support you require in a cost-effective way.

We advise on all stages the Investment Firm Prudential Regime (IFPR)

We’ll assist with issues specific to your firm e.g. modification applications and will tailor our approach to your needs. Our support package can range from providing ad-hoc advice on specific areas to delivering the full IFPR implementation.

We support businesses on complying with the key requirements set out on the IFPR:

• If your firm is part of a group, we’ll assess whether your firm’s entities form part of an investment firm group, as defined in the MIFIDPRU FCA sourcebook.
• If your firm is part of an investment firm group, we’ll model the MIFIDPRU capital requirements relevant to your business requirements on a consolidated basis, helping with your application for the Group Capital Test.
• We’ll review your regulatory returns (MIF001 – MIF006 and FSA029 and FSA030), before submitting these to the FCA on a quarterly basis.
• We review ICARAs and provide recommendations for enhancement annually.
• Our team will review your wind-down plan and provide recommendations for improvement annually.
• We’ll review your risk management framework to make sure that it’s fit for purpose and can be used to assess your own funds and liquid asset threshold requirements.
• Our experts will prepare your MIF007 return (ICARA questionnaire) and review your MIFIDPRU disclosures before they’re published on your website.
• We’re able to examine your remuneration policy and arrangements, as well as your MIF008 return on remuneration.
• Our specialists assist with any additional enquiries you may have on IFPR matters.

Our prudential service offering

Quarterly returns

We provide independent reviews of MIF001 – MIF006, FSA029 and FSA030 returns based on underlying workings. These include reviews of your own fund threshold requirements and K-factor calculations.

We also set out our findings and recommendations, discussing any questions that you might have after our review and can submit the returns on your behalf.

Risk management frameworks

Our specialists identify and assess risk of harms by reviewing your internal governance and controls within the risk management process. We always provide feedback and recommendations based on our findings, including on any enhancements needed.

We’ll help you establish your firm’s risk appetite, risk management frameworks, and ongoing risk assessments.

ICARA reviews

We’ll review your current ICARA, providing feedback and recommendations on any enhancements needed. Following our review, we’ll schedule a call with you to go through our findings and recommendations.

Were also able to complete and submit MIF007 ICARA questionnaire returns on your behalf based on the information included in your ICARA document.

Wind down plan reviews

Our team will review your existing wind-down plans, offering recommendations based on their findings on any enhancements needed. They’ll also assist in drafting your wind-down plan document if you don’t have one in place.

Disclosures

We’ll evaluate your MIFIDPRU disclosures and can draft a MIFIDPRU disclosure document if this hasn’t been published yet.

Remuneration

As a non-SNI firm, you’ll be required to carry out a central and independent review of the firm’s remuneration policy and arrangements annually. We’ll carry out this review on your behalf, assessing your MIF008 annual remuneration return as well.

Client assets and money

Our client assets and safeguarding professionals regularly help firms manage compliance with Client Assets Sourcebook, or CASS, regulations. They provide support including comprehensive health checks, developing risk and control frameworks, and ensuring effective oversight.

Ad hoc queries

Our prudential experts help answer any ad hoc questions or worries you might have. As your business changes, our team will help you understand the regulatory impact and deal with it appropriately.