Get ready for the IFPR set-up questionnaire
The FCA will be sending out an IFPR set-up questionnaire to all firms within the scope of the IFPR this autumn.
Although it is not yet published, we expect this questionnaire will ask for key information to allow the FCA to update its systems and set up reporting schedules.
The regulator is likely to ask for information about the membership and composition of the group, where firms are in a group structure; the firm’s expected IFPR status (SNI firm or non-SNI firm); and the date the firm expects to submit its first ICARA report
Taking the actions outlined will help firms make sure they are prepared to answer the FCA’s questions when they arrive.
Jane Greenwood is compliance policy consultant at Threesixtyservices
