RegData Reporting Schedule
Since the Investment Firms Prudential Regime (IFPR) came into force at the beginning of this year, Firms that are considered to be MIFIDPRU Investment firms will have different regulatory reporting duties than they might have had before. As a MIFIDPRU firm, your regulatory reporting duties to the FCA via RegData changed. For some firms, the below reports are due on Tuesday 3rd of May:
- FSA001 and FSA002 (balance sheet and income statement) have been replaced by FSA029 and FSA030 (now quarterly rather than semi-annually).
- FSA003 has been replaced and upgraded by separate returns covering capital (MIF001), liquidity (MIF002) and monitoring metrics (MIF003).
- FSA019 has been replaced by the ICARA questionnaire which is considerably more comprehensive (MIF007).
- All firms now also have to provide remuneration reporting (MIF008). Revised MIFIDPRU compliant Remuneration Policies should be in place shortly to support this return.
If your firm is to be considered a ‘non-SNI’ (non-small and non-interconnected) firm, you will also be required to complete the following returns for your concentration risk:
- Non-K-CON concentration risk monitoring (MIF004).
- K-CON – concentration risk reporting where the ‘soft limit’ has been exceeded (MIF005).
Some firms have reported inconsistencies between the regulatory returns that are appearing on their RegData reporting schedule and what they had expected according to their IFPR categorisation.
It is therefore strongly advised that you check your firm’s reporting schedule on FCA RegData to ensure that the correct returns appear as expected, please reach out to us if you feel that anything appears to be out of place.
Should you require any assistance with any of your Reg data reporting under MIFIDPRU, including any of the above listed reports, whether it is solely to validate your data inputs and workings or a more outsourced solution, please let us know and we would be happy to assist. In November 2021, Firm’s were required to submit a response to the IFPR questionnaire sent by the FCA. Firm’s would have stated the date for the submission of their first MIF007 ICARA questionnaire. In the event that your firm’s circumstances have changed (eg new auditors or change in ARD) in the interim, and as a result, you no longer believe it will be able to achieve that date, you can apply to the FCA to defer the submission date of your first MIF007 return.
