WebMay 11, 2024 · CP21/7 also introduces the concept of specific own funds and liquid asset wind-down triggers (WDT). The proposed own funds WDT will be the higher of a firm’s FOR or FCA imposed amount while the liquid assets WDT will be the higher of a firm’s BLAR or FCA imposed amount. These FCA designated triggers represent the minimum amount of … WebWind-down planning is a process in which the firm’s governing body: (1) identifies the steps and resources it needs to wind down its business, especially in a situation where resources are limited; and. (2) evaluates the risks and impact of a wind-down and considers how to mitigate them. WDPG 3.1.2 G 09/12/2016.
Wind-down planning - Bovill
WebOct 30, 2024 · The FCA requires P2P firms to develop appropriate systems and controls for different wind-down scenarios, to ensure they have thought through how any wind-down process would be funded (whether in-house or out-sourced to a back-up service provider), and that those companies whose wind-down arrangements depend on other firms … WebApr 5, 2024 · This requirement has been highlighted by the FCA through its Wind-down Planning Guide (WDPG) and Finalised Guidance now covers most FCA firms, and as … g2 aspersion\u0027s
Letter to loan-based peer-to-peer (P2P) crowdfunding …
WebMay 6, 2024 · We also remind you that the own funds wind-down trigger for a MIFIDPRU firm to be reported in cell 27A is the same as the fixed overheads requirement (FOR) for that firm, unless the FCA has specified that the firm should use a different amount. Helpful information and guidance WebFeb 27, 2024 · Under IFPR, firms must hold sufficient financial resources to support on-going activities and wind-down in an orderly manner, as required by the Overall Financial Adequacy Rule (OFAR). Firms are further directed to complete an ICARA process to check whether it complies with the OFAR. WebNov 24, 2024 · FCA clarifies what good looks like for assessing liquidity for orderly wind down 1 39 “Effective wind-down planning enables a firm to cease its regulated activities … glass dome chiming anniversary clocks