Publication
Trademark tussles just got spicier: Canada now offers costs awards
Costs awards in trademark opposition proceedings have been long anticipated in Canada.
What is the ICARA process and what is an ICARA document? Practical issues for firms
Thomson Reuters
The new Investment Firm Prudential Regime introduces an internal capital and risk assessment (ICARA) process for both small and non-interconnected investment firms (SNI firms) and non-SNI firms. The Financial Conduct Authority (FCA) has highlighted that the introduction of this new regime is an opportunity to re-establish the expectations for firms' internal governance and risk management that reflects and builds upon the framework previously established in FCA guidance.
The intention is that the ICARA process will be the centrepiece of MIFID investment firms' risk management processes. The process will incorporate business model assessment, forecasting and stress testing, recovery planning and wind-down planning. The new regime also introduces the Overall Financial Adequacy Rule (OFAR), which establishes the standard the FCA will apply to determine if an FCA investment firm has adequate financial resources.
As part of the ICARA process, firms will also be expected to identify whether they comply with the OFAR.
Associate
Email
victoria.pridmore@nortonrosefulbright.com
Recent publications
Publication
Ontario proposes to overhaul Rules of Civil Procedure
On April 1, after more than a year of consultation, research and consideration, Ontario’s Civil Rules Review (CRR) working group released its proposed reforms to the Rules of Civil Procedure – the rulebook that governs litigation in the province.
Publication
2025 federal election: Third-party regulated activities
Canada’s 45th general election will take place on April 28. Businesses and non-profits that are considering engaging in the political process during this time must know the law and understand how to navigate the rules and restrictions imposed by the Canada Elections Act (CEA).
Subscribe and stay up to date with the latest legal news, information and events . . .