What should a firm include in the ICAAP report about the Firm’s Business Model?
Articulation of the firm's business model:
The ICAAP Document should look to provide a clear presentation of the firm's business strategy in addition to the risks, threats and opportunities that may be present in both the current and future business environments.
Firm's should ensure they include relevant qualitative and quantitative analysis. It should be noted that the FCA will use this to identify a firm's appropriate peers, before then benchmarking that firm against those peers. Should a misleading impression be given, firms might find they are set unexpected Pillar 2 requirements.
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