Content Options

Content Options

View Options

Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.


Status: This chapter was amended on 31 December 2020 as a result of Brexit. However, it is subject to the FCA Prudential Transitional Direction , which means that firms should not comply with these provisions yet. Instead, firms must follow this link and continue to comply with pre-IP completion day requirements https://www.handbook.fca.org.uk/handbook?date=31-12-2020&timeline=True (unless specified otherwise in the Direction). To see a full list of Handbook modules affected, please see Section B of the Annex to the Direction.


You are viewing the version of the document as on 2016-10-03.

Status: In this content, we have included all amendments made by EU exit-related instruments up to end September 2020. There will be more amendments to be made later this year, further to the September QCP.

IPRU-INV 1.1 PURPOSE

IPRU-INV 1.1.1R

[deleted]

IPRU-INV 1.1.2RRP

The rules and guidance in this sourcebook will assist the appropriate regulator to meet the statutory objectives. This sourcebook does so by setting minimal capital and other risk management standards thereby mitigating the possibility that firms will be unable to meet their liabilities and commitments to consumers and counterparties.

IPRU-INV 1.1.3RRP

The general scheme of this sourcebook is, wherever appropriate, to apply the financial and other prudential standards which applied to a firm immediately prior to it becoming authorised by the appropriate regulator under the Act. For convenience, the chapter numbers adopted in this sourcebook correspond with those of the rulebooks of previous regulators.

IPRU-INV 1.1.3ARRP

1

This sourcebook does not apply to BIPRU firms1 except:

  1. (1)

    it does apply to certain exempt BIPRU commodities firms; and

  2. (2)

    [deleted]

IPRU-INV 1.1.3BRRP

1This sourcebook does not apply to IFPRU investment firms except it does apply to exempt IFPRU commodities firms.

IPRU-INV 1.1.4RRP

This sourcebook does not apply to banks, building societies, insurers, the Society of Lloyd's (except in relation to underwriting agents), friendly societies and certain other categories of firm and members' advisers.

IPRU-INV 1.1.5RRP

On becoming authorised by the appropriate regulator a firm will have to comply with the particular chapter of this sourcebook appropriate to its business. The firm will be able to seek guidance on this during the authorisation procedure. If subsequently, the business for which a firm has permission changes it may be necessary for it to comply with a different set of financial resources requirements. Firms will be able to discuss this aspect with the appropriate regulator during the application process.

IPRU-INV 1.1.6R

The Supervision manual sets out provisions relating to the periodic reporting and notification of financial information to the appropriate regulator or to the auditing of accounts. However, this sourcebook contains a few additional notification requirements (notification rules).