The European Banking Association (EBA) and the U.K. Financial Conduct Authority (FCA) have responded to requests by investment firms to define a new prudential regime that better reflects the risks those firms face rather than the one-size-fits-all banking package defined by the CRD and CRR. Through the introduction of the Investment Firm Directive (IFD) and Investment Firm Regulation (IFR) by the EBA - also known as IFPR in the U.K., which the FCA will legislate for locally as it’s a post Brexit change, investment firms will have to comply with a new set of rules and reporting requirements to meet their prudential obligations.

With the deadline for the new prudential regime for investment firms arriving soon, having the right approach in place to successfully meet the requirements has become a top priority for every CEO, CFO and CRO at MiFID firms. To meet the June 2021 deadline - January 1, 2022 for the U.K. - firms will require strong and focused project management and strategic partnerships.

In the countdown to these deadlines, it is becoming increasingly important for firms to understand the full scope of the new rules and the reporting challenges they pose. OneSumX Regulatory Reporting for Investment Firms is an end-to-end prudential calculator, regulatory reporting, and Pillar 3 disclosure solution specifically for Class 2 and Class 3 firms. The offering provides firms with a fully automated regulatory reporting solution based on a structured logical data model that leverages K-factor calculators with reporting capabilities across capital and liquidity requirements, helping to save time and money that otherwise would be spent on business analysis and development.

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How to Prepare for IFR/IFD and IFPR

Through the introduction of the Investment Firm Regulation (IFR) and Investment Firm Directive (IFD) by the EBA - also known as IFPR in the U.K - investment firms will have to comply with a new set of rules and reporting requirements to meet their prudential obligations.

In this video, we cover the scope of the new rules, the key dates and critical details that investment firms in the EU and the UK need to consider when preparing to meet their reporting obligations for the June 2021 and January 2022 respective deadlines, and how Wolters Kluwer FRR can help.

To help meet the demands of the new prudential regime for investment firms, we can help with the following:
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Automate the regulatory reporting process:
Fast-track data harvesting through our structured data model and integrated K-factor calculators with reporting capabilities.
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Optimize data collection:
With our Investment Firm Regulation (IFR) subject matter expertise, we are well placed to guide firms on the data they need for compliance. This saves resources that otherwise would be spent on business analysis.
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Ensure sufficient eligible capital:
Assess whether available capital is eligible for prudential purposes by comparing capital attributes to requirements specified in IFR Articles 9 and 10. Use our Risk-to-Client, Risk-to-Firm and Risk-to-Market calculators to determine necessary capital.
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Ensure sufficient eligible liquidity:
Determine if the properties of assets in your liquid asset buffer are eligible under IFR Articles 43-45 and assess if your firm meets minimum requirements defined in Article 43(1).
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Keep current on regulatory reporting requirements:
Our Regulatory Update Service will ensure the solution is up-to-date and compliant in line with regulatory deadlines at no extra cost, covering changes to any calculation, classification, reporting template, validation rule or XBRL taxonomy.
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Leverage powerful analytical tools:
Access to trend, variance, drill-down, drill-up and drill-through features at no additional cost, helps users attest to the accuracy of returns. Manual adjustments can be applied in a fully auditable way subject to four-eyes principle.
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Ensure accuracy:
All validation rules specified by regulators will be implemented to ensure the integrity of submitted reports. The solution provides handy features that allow users to validate data for integrity and completeness as well as investigate validation errors and warnings.
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Scalability and performance:
Java-based components use in-memory processing to deliver power and scale without compromising functionality. The modular design allows your teams to mix and match tactical components as they work toward a strategic, automated solution.
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Provide full cost transparency and flexibility:
The solution is available through a SaaS deployment. We take care of platform management, application support and any additional maintenance. If a firm is not ready to switch to cloud-based regulatory reporting, we can deliver on-premise installation.
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All you need to know about IFR/IFD and IFPR reporting obligations

IFR/IFD and IFPR impacted MiFID investment firms in the EU as of June 26th 2021 and UK-based firms from January 1st 2022, but they also have distinct sets of rules and reporting obligations.


This video looks into the reporting obligations presented by the EBA and the FCA and provides insight for investment firms both in the EU and the UK around upcoming deadlines and how to stay prepared.