European Parliament adopts IFD and IFR revising the prudential framework for EU investment firms
The European Parliament has now passed the new regulation on prudential requirements for MiFID investment firms, the Investment Firms Regulation (IFR) and the accompanying Directive, the Investment Firms Directive (IFD). Following adoption by the European Council, these will become law with the new regime expected to come into force in either late 2020 or early 2021.
The IFR and IFD will introduce a new prudential regime for the majority of MiFID investment firms replacing the current regime under the Capital Requirements Directive and Capital Requirements Regulation.
Should firms, or clients of Complyport, have concerns over the new prudential regime they can contact Complyport for assistance.