(1)
The aim of the guidance in the following table is to provide an overview of the relevant notification requirements in MIFIDPRU.
(2)
It is not a complete statement of those requirements and should not be relied on as if it were.
| Handbook reference | Subject of notification | Trigger events | Time allowed |
|---|---|---|---|
| MIFIDPRU 1.2.4R(3) | Applying alternative calculation for AUM or COH for SNI MIFIDPRU investment firm criteria | Decision to apply alternative approach | Not applicable |
| MIFIDPRU 1.2.4R(4) | Ceasing to apply alternative calculation for AUM or COH for SNI MIFIDPRU investment firm criteria | Decision to cease applying alternative approach | Not applicable |
| MIFIDPRU 1.2.7R(2) | Use of end-of-day value for calculating average CMH for SNI MIFIDPRU investment firm criteria | Record-keeping or reconciliation error as described in MIFIDPRU 1.2.7R(1) | Immediate notification |
| MIFIDPRU 1.2.13R(2)(b) | Non-SNI investment firm meeting criteria to be classified as an SNI MIFIDPRU investment firm | Meeting SNI MIFIDPRU investment firm criteria for at least 6 months | Not applicable |
| MIFIDPRU 1.2.16R | Firm ceasing to meet one of the criteria to be classified as an SNI MIFIDPRU investment firm | Ceasing to meet one or more of the SNI MIFIDPRU investment firm criteria | Prompt notification |
| MIFIDPRU 2.5.17R(2)(f) | Application of proportional consolidation to a participation meeting the conditions in MIFIDPRU 2.5.17R | Decision to apply proportional consolidation | Not applicable |
| MIFIDPRU 3.3A.3R(1)(b) | Notification of subsequent issuance of capital instruments qualifying as common equity tier 1 capital | Proposed issuance of capital instruments of an existing class of common equity tier 1 capital | No fewer than 20 business days before the issuance |
| MIFIDPRU 3.3A.17R | Notification of inclusion of interim profits or year-end profits in common equity tier 1 capital | Inclusion of such profits in common equity tier 1 capital before formal decision confirming final profit or loss for the year | As soon as reasonably practicable after inclusion |
| MIFIDPRU 3.6A.6R(2) | Notification of proposed reduction of capital where conditions in MIFIDPRU 3.6A.7R are met | Proposed reduction of capital where conditions in MIFIDPRU 3.6A.7R are met | No later than the 20th business day before the day on which the reduction of capital will occur |
| MIFIDPRU 3.6A.8R | Notification of proposed issuance of additional tier 1 instruments or tier 2 instruments | Proposed issuance of additional tier 1 instruments or tier 2 instruments | At least 20 business days before the intended issuance date |
| MIFIDPRU 4.12.7R | Notification of non-material change or non-material extension in use of an internal model for the K-NPR requirement | Proposal to implement a non-material change to a model or to extend the use of a model in a non-material manner | Not applicable |
| MIFIDPRU 4.12.10R | Use of own estimates for delta for standardised approach to market risk of options | Decision to apply own estimates for delta where conditions in MIFIDPRU 4.12.10R are met | Not applicable |
| MIFIDPRU 4.13.10R | Notification that conditions for use of K-CMG permission are no longer met | Portfolio ceasing to meet conditions in MIFIDPRU 4.13.9R for use of a K-CMG permission | Immediate notification |
| MIFIDPRU 4.13.20R | Notification that firm will calculate the K-NPR requirement for a portfolio for which it previously had a K-CMG permission | Decision to calculate the K-NPR requirement for a portfolio where conditions in MIFIDPRU 4.13.19R are met | Not applicable |
| MIFIDPRU 5.6.3R | Notification that concentration risk soft limit has been exceede | Exceeding concentration risk soft limit for a client or group of connected clients as specified in MIFIDPRU 5.6.2R | Notification without delay |
| MIFIDPRU 5.9.3R | Notification that “hard” exposure limits in MIFIDPRU 5.9.1R have been exceeded | Exceeding limit in MIFIDPRU 5.9.1R | Notification without delay |
| MIFIDPRU 5.11.2R | Exemption from MIFIDPRU 5.2 to MIFIDPRU 5.10 for commodity and emission allowance dealers | Decision to apply exemption where conditions in MIFIDPRU 5.11.1R are met | Not applicable |
| MIFIDPRU 7.1.9R | Notification that firm has met necessary conditions to fall within either MIFIDPRU 7.1.4R(1)(a) or (b) for a continuous period of at least 6 months | Meeting conditions in either MIFIDPRU 7.1.4R(1)(a) or (b) for a continuous period of at least 6 months | Not applicable |
| MIFIDPRU 7.1.12R | Notification that firm no longer meets the conditions necessary to fall within MIFIDPRU 7.1.4R(1)(a) or (b) | No longer meeting conditions in No longer meeting conditions in MIFIDPRU 7.1.4R(1)(a) or (b) when the firm previously did so when the firm previously did so | Prompt notification |
| MIFIDPRU 7.6.11R | Notification where own funds fall below certain specified levels | Own funds falling below levels specified in MIFIDPRU 7.6.11R | Immediate notification |
| MIFIDPRU 7.7.14R | Notification where liquid assets fall below certain specified levels | Liquid assets falling below levels specified in MIFIDPRU 7.7.14R | Immediate notification |
| MIFIDPRU 7.8.4R | Firm’s choice of submission date(s) or change of submission date(s) for data item MIF007 (ICARA assessment questionnaire) | Initial choice of submission date or change of submission date for data item MIF007 | Not applicable |
| MIFIDPRU TP 1.8R | Notification of firm’s intentions in relation to additional tier 1 instruments issued before 1 January 2022 | Firm has outstanding additional tier 1 instruments on 1 January 2022 | By no later than 1 January 2022 |
| MIFIDPRU TP 7.4R | Notification to treat capital instruments issued before 1 January 2022 as own funds under MIFIDPRU 3 | Firm has issued capital instruments before 1 January 2022 that it wishes to treat as own funds under MIFIDPRU 3 | By no later than 1 January 2022 |