Global Regulation, Local Solutions Emerging Themes 2020 - Page 21



SUPERVISION
SIZE
MATTERS
NEW PRUDENTIAL
FRAMEWORK FOR
EU INVESTMENT FIRMS
20/
EMERGING THEMES 2020
The new Investment Firms Directive
2019/2034 (“IFD”) and Investment Firms
Regulation 2019/2033 (“IFR”) were
published in the Official Journal of
the EU on 5 December 2019 and will
apply (subject to local implementation
of the IFD) from 26 June 2021.
The IFD/IFR will introduce a new
prudential regime for EU investment
firms authorised under the Markets in
Financial Instruments Directive (“MiFID
II”). The UK government has indicated
that it intends to implement the IFD/
IFR, although the uncertainty over Brexit
has left the exact position unclear.
/21

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