FG26/9: Non-Handbook Guidance on COREPRU 7: Overall risk assessment

Read FG26/9 (PDF)[2]

Why we're issuing this guidance 

We've published guidance to help firms understand how to complete the overall risk assessment required under our Core Prudential sourcebook (COREPRU) rules. It explains how firms can link their business model, risk appetite, financial resource planning and wind-down planning into one coherent process. The guidance aims to help firms meet their obligations in a way that's proportionate to their size and complexity, reducing the risk of financial harm to themselves, their customers and markets. 

Who this is for

• FCA solo-regulated firms subject to the Core Prudential sourcebook (COREPRU), including firms that provide cryptoasset services. 
• Compliance, risk and prudential teams responsible for completing their firm's overall risk assessment. 
• Firms preparing for authorisation who need to understand prudential expectations from the outset. 

Next steps

This guidance will come into force on 25 October 2027. There's no action needed to respond to this publication, as it's finalised guidance rather than a live consultation. 

We'll continue to monitor how firms apply this guidance, including through our supervisory review and evaluation process (SREP), and may issue further sector-specific guidance in the future. 

Background

In June 2026, we consulted on this guidance (GC26/4[3]) alongside a related consultation for cryptoasset firms (GC26/5[4]). We received 8 responses from trade bodies, cryptoasset firms, consultancies and individuals, and made some changes to improve clarity, including on baseline requirements and cumulative cash flow. 

This guidance builds on our existing guidance, FG20/1[5], and supports the prudential rules in PS26/12[6] and the FCA Handbook. It's part of our wider strategy to become a smarter regulator, making our prudential framework clearer and more consistent by separating supporting guidance from core Handbook rules.