出版物
Road to COP29: Our insights
The 28th Conference of the Parties on Climate Change (COP28) took place on November 30 - December 12 in Dubai.
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
出版物
China further opens up its healthcare sector to foreign investors
On 8 September 2024, the Ministry of Commerce (MOFCOM), the National Health Commission (NHC) and the National Medical Products Administration jointly released the Notice on Carrying Out Pilot Programs to Expand the Opening-up in the Healthcare Sector (关于在医疗领域开展扩大开放试点工作的通知) (the Notice) .
Subscribe and stay up to date with the latest legal news, information and events . . .