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ICAAP Support Services


“You should ensure that the ICAAP is the responsibility of, and reported to, the firm’s governing body, and forms an integral part of the firm/group’s management process and decision-making culture.”

Andrew Bailey, CEO of FCA, September 2016 ‘Dear CEO Letter

*** The FCA is now actively reviewing ICAAPs for all firms ***

All firms should ensure that they have their ICAAP documents ready for the regulator’s SREP inspections and in particular, if you are a non-relationship managed firm, this may be an incredibly important point of contact to ensure a good impression is left with the regulator.

Responsibility of Firms

Firms are responsible for ensuring that they have suitable governance in place along with the processes, procedures and methodologies to enable them to verify their internal capital adequacy at all times with regards to the risks they may face. This is referred to as the Internal Capital Adequacy Assessment Process or ICAAP for short.

Firms must also be able to support their assessments and evaluations in this regard by having complete and detailed documentation to support their structured approach. This ICAAP documentation must be reviewed at least annually by the Board and will be requested by the regulator during their Supervisory Review and Evaluation Process (SREP).

Our site seeks to provide further information and detail about the contents of a firm’s ICAAP documentation as well as answer some frequently asked questions on ICAAPs.

To start us off, some initial key aspects that a Firm’s ICAAP should consider and contain are:

ICAAP support services from experienced regulatory consultants and compliance professionals.

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Firms must have suitable governance, management capability, systems & controls in place to enable them to verify their internal capital adequacy at all times with regards to any risks they may potentially face.

ICAAP Support Services

If your firm would like information on our ICAAP support services such as assistance in examining your ICAAP to ensure it is appropriately assessed for your current business plan and activities or assistance in documenting this review, please contact us. Our experienced ICAAP Consultants would be happy to help, so send an enquiry or telephone today.

Telephone:

020 3813 2890

Contact our experienced ICAAP Support Consultants for a no obligation discussion on your requirements

ACTION FOR FIRMS

FCA’s Dear CEO letter to IFPRU Firms concerning SREP & inadequate ICAAPs.

Contents relevant for all Firms that prepare an ICAAP…

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