Are you ready for IFR/IFPR? - Vermeg

Are you ready for IFR/IFPR?

2021-10-29

The European Union 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. 

For all investment firms the key question will be which class do you 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 Firm 

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 

 

Firms that fall into Class 2 and 3 are required to monitor their criteria settings as they may change. 

What can VERMEG do to help? 

VERMEG is committed to providing full support to all firms required to report the new IFR/IFPR. If you have any questions reporting IFR reporting please feel free to contact communications@vermeg.com for a free consultation with one of our subject matter experts. 

 

“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 

 

REGISTRATION ATTACHMENT