Find out about the Prudential Supervision Forum and read the keynote speech and presentation slides.
On 13 May, we held our first FCA Prudential Supervision Forum.
We are responsible for the prudential regulation of over 24,000 firms in the UK, covering a wide range of sectors – asset managers, investment firms, platforms and a range of infrastructure providers – under various different prudential regimes.
We have a single statutory objective, to ensure that relevant markets work well, underpinned by the operational objectives of protecting and enhancing the integrity of the UK financial system; securing an appropriate degree of protection for consumers; promoting competition in the interests of consumers. This informs our approach to prudential regulation: firms can and do fail, but our aim is to minimise detrimental impact on consumers, counterparties or market stability.
At the Forum, we gave an outline of our approach to prudential supervision. It was also an opportunity to share practices and set expectations in relation to a few of the rules and Directives affected. These include the Capital Requirements Directive IV and the Recovery and Resolution Directive, as well as liquidity and operational risk practices.
We have published the content from the Forum to share with all investment firms that may be affected by some or all of the areas covered.
The event included a number of presentations and panel sessions, bringing together our experts and representatives from the Institute of Operational Risk, The Investment Association and the Bank of England.
- Nausicaa Delfas’ keynote speech: Overview of the FCA prudential approach and its link to conduct supervision
- Slides from the liquidity adequacy and cash management, Resolution and Recovery Directive and crisis management presentations
- Key discussion points from the operational risk panel session (updated PDF)
- Webcast from the Recovery and Resolution session
You can find out more about Capital Requirements Directive IV (CRD IV) and the Resolution and Recovery Directive (RRD) using the links below:
- CRD IV homepage
- COREP and FINREP reporting
- CRD IV Frequently Asked Questions
- RRD homepage
- Three key elements of RRD
- EBA guidelines
- RRD Frequently Asked Questions
- CRD IV Pillar 2 Summary and Stress Testing Observations (PDF)
- Dear Chair of the Board Letter - Governance compliance review (PDF)
- Dear CEO Letter - FCA’s prudential approach for IFPRU Investment Firms (PDF)