Are you ready for IFR / IFPR? | Blog post by VERMEG

Are you ready for IFR / IFPR?

Are you ready for IFR / IFPR?

The European Union has adopted new regulations for investment firms, the Investment Firm Regulation (IFR) and the new Investment Firm Directive (IFD). Also known as the Investment Firms Prudential Regulation (IFPR) in the UK. Over the coming weeks, VERMEG will be releasing a short series of blogs regarding IFR/IFPR key points that firms should consider. The first in this series relates to classifications.

For all investment firms, the key question will be which class they belong to. There are 3 classes each with distinctive reporting requirements.

Class 1 (Systemic Investment Firm)

  •  Firms which deal on own account and underwrite or place financial instruments on a firm commitment basis
  • Total assets EUR 30bn
  • Regulated by CRD4/CRR

 Class 1 Minus (Systemic Investment Firm)

  • Firms which deal on own account and underwrite or place financial instruments on a firm commitment basis
  • Total assets EUR 15bn
  • Regulated by CRD4/CRR

Class 2 (Non-systemic investment firm)

  • All investment firms not categorized in Class 1 or 3
  • MiFiD Firms

Class 3 (A Small and Non-interconnected investment firm)

  • Firms which deal on own account and underwrite or place financial instruments on a firm commitment basis
  • No Client money

What can VERMEG do to help?
VERMEG is providing support to firms required to report the new IFR/IFPR using its AgileREPORTER solution. If you have any questions regarding IFR reporting please feel free to contact communications@vermeg.com

“Having supplied efficient & reliable Regulatory Reporting solutions for a number of years, VERMEG remain a dependable partner to Renaissance Capital, we look forward to continuing this relationship for many years to come.”
Renaissance Captial