MIFIDPRU Sch 2 Notification requirements
- (1)
1The 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 |
Applying alternative calculation for AUM or COH for SNI MIFIDPRU investment firm criteria |
Decision to apply alternative approach |
Not applicable |
|
Ceasing to apply alternative calculation for AUM or COH for SNI MIFIDPRU investment firm criteria |
Decision to cease applying alternative approach |
Not applicable |
|
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 |
|
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 |
|
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 |
|
Application of proportional consolidation to a participation meeting the conditions in MIFIDPRU 2.5.17R |
Decision to apply proportional consolidation |
Not applicable |
|
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 |
|
Notification of proposed reduction, repurchase, call or redemption of own funds instruments where conditions in MIFIDPRU 3.6.4R are met |
Proposed redemption of own funds instruments where conditions in MIFIDPRU 3.6.4R are met |
No later than the 20th business day before the day on which the reduction, repurchase, call or redemption will occur |
|
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 |
|
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 |
|
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 |
|
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 |
|
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 |
|
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 |
|
Notification that “hard” exposure limits in MIFIDPRU 5.9.1R have been exceeded |
Exceeding limit in MIFIDPRU 5.9.1R |
Notification without delay |
|
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 |
|
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 |
|
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 |
|
Notification where own funds fall below certain specified levels |
Own funds falling below levels specified in MIFIDPRU 7.6.11R |
Immediate notification |
|
Notification where liquid assets fall below certain specified levels |
Liquid assets falling below levels specified in MIFIDPRU 7.7.14R |
Immediate notification |
|
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 |
|
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 |
|
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 |