What this webinar covered
Financial resilience has always been a key focus area for the FCA’s supervision of investment firms. However, with the grace period following the implementation of the IFPR now well and truly over, the FCA expects all investments firms to maintain adequate financial resources at all times, not just when reporting on their financial position through periodic RegData returns.
We have seen an increasing number of firms be challenged by the FCA where they have failed to identify breaches in a timely manner. On notification to the FCA, these firms have found themselves under increased scrutiny in respect of the adequacy of their ongoing monitoring of their financial resources, as well as further scrutiny of their governance and risk management arrangements.
Beyond understanding the ‘point in time’ position the expectation is that firms are able to form a clear view of their forward-looking position. Formalising processes and defining clear escalation routes and recovery actions are a key pillar of any Prudential monitoring framework. This webinar outlined the key principles underpinning a robust prudential monitoring framework and is applicable to all regulated businesses.
Agenda
- The importance of Prudential monitoring
- Risks and Requirements
- Setting appetites, triggers, and thresholds
- Point in time vs. forward looking assessments
- Escalation routes, recovery actions and FCA notifications
Webinar Recording
Click here to access the recording of the webinar entitled Establishing a robust prudential monitoring framework held by Harpartap Singh and Jonathan Aseervatham on the 20th November 2024.
Speakers
Harpartap Singh
Managing Director, Prudential Services
Harpartap Singh is responsible for the development and expansion of Cosegic’s prudential services offering and client service delivery. He has substantial experience helping firms manage their prudential regulatory obligations, including investment firms’ ICARA and banks’ ICAAP and ILAAP reviews; SREP remediation; REGDATA reporting; recovery and resolution plans; wind down planning; regulatory capital restructuring; and M&A due diligence. Whilst he has substantial experience helping firms across all sectors to comply with their prudential regulatory obligations, his particular strength is helping investment firms and credit institutions.
Jonathan Aseervatham
Director, Prudential Services
Jonathan is a Director of our Prudential team, where he specialises in helping our clients to assess their regulatory capital and liquidity requirements; to implement IFPR including developing ICARAs and wind down plans; and to assist with their regulatory reporting obligations.
Date: 20th November 2024
Time: 12:00 pm – 12:30 pm
Hosted by: Harpartap Singh and Jonathan Aseervatham
Cosegic is pleased to introduce the third in our new series of Bitesize webinars. These webinars will be 30 minutes long, making them perfect for lunchtime learning. The aim of the Bitesize series is to take one particular regulatory topic and examine it in greater detail to provide insightful and practical guidance.The team will deliver a 25 minute presentation followed by 5 minutes of questions from the audience.
Webinar Recording
Click here to access the recording of the webinar entitled Establishing a robust prudential monitoring framework held by Harpartap Singh and Jonathan Aseervatham on the 20th November 2024.
What this webinar covered
Financial resilience has always been a key focus area for the FCA’s supervision of investment firms. However, with the grace period following the implementation of the IFPR now well and truly over, the FCA expects all investments firms to maintain adequate financial resources at all times, not just when reporting on their financial position through periodic RegData returns.
We have seen an increasing number of firms be challenged by the FCA where they have failed to identify breaches in a timely manner. On notification to the FCA, these firms have found themselves under increased scrutiny in respect of the adequacy of their ongoing monitoring of their financial resources, as well as further scrutiny of their governance and risk management arrangements.
Beyond understanding the ‘point in time’ position the expectation is that firms are able to form a clear view of their forward-looking position. Formalising processes and defining clear escalation routes and recovery actions are a key pillar of any Prudential monitoring framework. This webinar outlined the key principles underpinning a robust prudential monitoring framework and is applicable to all regulated businesses.
Agenda
- The importance of Prudential monitoring
- Risks and Requirements
- Setting appetites, triggers, and thresholds
- Point in time vs. forward looking assessments
- Escalation routes, recovery actions and FCA notifications
Speakers
Harpartap Singh – Managing Director, Prudential Services
Harpartap Singh is responsible for the development and expansion of Cosegic’s prudential services offering and client service delivery. He has substantial experience helping firms manage their prudential regulatory obligations, including investment firms’ ICARA and banks’ ICAAP and ILAAP reviews; SREP remediation; REGDATA reporting; recovery and resolution plans; wind down planning; regulatory capital restructuring; and M&A due diligence. Whilst he has substantial experience helping firms across all sectors to comply with their prudential regulatory obligations, his particular strength is helping investment firms and credit institutions.
Jonathan Aseervatham – Director, Prudential Services
Jonathan is a Director of our Prudential team, where he specialises in helping our clients to assess their regulatory capital and liquidity requirements; to implement IFPR including developing ICARAs and wind down plans; and to assist with their regulatory reporting obligations.