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The FCA has published its long-awaited Discussion Paper on the implementation of a revised prudential regime for UK investment firms (the Investment Firms Prudential Regime (IFPR)). As anticipated, the FCA intends to implement a regime which mirrors that of the EU Investment Firms Directive (IFD) and is seeking views on its proposed approach to implementation before it publishes a further consultation on the specific provisions.

Alongside a number of other measures, the IFPR will impact on the remuneration provisions which apply to investment firms including asset managers, hedge funds, and investment advisers once it has been implemented and takes effect, which is anticipated to be by July 2021.

This briefing sets out details of the remuneration provisions contained in the IFD and the related EU Investment Firms Regulation (IFR), and how the FCA is currently proposing that these will be implemented in the UK under the IFPR.

Download the briefing here.

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Paul Ellerman

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Mark Ife

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Kiran Khetia

Of Counsel, London

Kiran Khetia