Webb22 okt. 2024 · The Internal Capital Adequacy and Risk Assessment (‘ICARA’) is a process that considers whether the systems and controls in place to identify, monitor and, where appropriate, reduce potential material harms, are appropriate. This is with respect to both the ongoing operation of the business and the winding down of its business. Webb7 apr. 2024 · Introduction. On 5 April 2024, the FCA published its 2024/24 business plan setting out its strategy for the year ahead (the Plan). The Plan should be read alongside the Financial Conduct Authority’s (FCA) three year strategy document, which was published on 7 April 2024. Firms should expect a more assertive and adaptive regulator who will ...
A step closer towards the new UK capital regime for investment firms
Webb11 aug. 2024 · ICARA replaces the Internal Capital Adequacy Assessment Process (ICAAP) and is seen by the FCA to be the centrepiece of a firm’s risk management process and will be a continuous process through which you should: identify and monitor harms; outline how harm is mitigated; perform business model assessment, planning and … WebbThe ICARA process can be conducted on a group basis, with the production of one ICARA document only, however this must cover how risks are managed on a group and an individual entity basis The criticality of wind down plans is discussed, with each entity requiring its own specific wind down plan including wind down triggers dream office reit news
Wind-down planning - Bovill
Webb28 juli 2024 · Firms must meet the “Overall Financial Adequacy Rule” (OFAR), i.e. a firm must hold adequate own funds and liquid assets to ensure it can remain viable throughout the economic cycle, i.e. it must be able to address potential harms from ongoing activities and be able to wind down in an orderly way. Under the ICARA, firms will need to ... Webb20 jan. 2024 · Wind-down and recovery planning has moved up the regulators radar in recent times, and not just because of the pandemic. Payment and E-Money Institutions are under particular scrutiny and wind-down planning will become mandatory as part of the ICARA for investment firms, when the new Investment Firms Prudential Regime is … WebbAbout. Regulatory compliance subject matter expert who has 22 years industry experience gained from working as a supervisor at the Financial Services Authority (‘FSA’) for 10 years followed by 12 years working at a senior level within the asset management and banking industries. Extensive knowledge of the FCA and PRA Handbooks and ... dream of finding coins