Investment & Portfolio Consultants Limited Pillar 3 Disclosure and Policy for the period 1st July 2019 – 30th June 2020
The Pillar 3 disclosure of Investment & Portfolio Consultants Limited (“the Firm”) is set out below as required by the FCA’s “Prudential Sourcebook for Banks, Building Societies and Investment Firms” (BIPRU) specifically BIPRU 11.3.3 R.This is a requirement which stems from the
The Firm will be making Pillar 3 disclosures at least annually.The disclosures will be as at the Accounting Reference Date (“ARD”), 30th June 2020.
Media and Location
The firm’s full Pillar 3 disclosure is available from the Compliance Officer at: firstname.lastname@example.org
The information contained in this document has not been audited by the Firm’s external auditors, as this is not a requirement, and does not constitute any form of financial statement and must not be relied upon in making any judgement on the Firm.
The Firm regards information as material in disclosures if its omission or misstatement could change or influence the assessment or decision of a user relying on that information for the purpose of making economic decisions. If the Firm deems a certain disclosure to be immaterial, it may be omitted from this Statement.
The Firm regards information as proprietary if sharing that information with the public would undermine its competitive position. Proprietary information may include information on products or systems which, if shared with competitors, would render the Firm’s investments therein less valuable. Further, the Firm must regard information as confidential if there are obligations to customers or other counterparty relationships binding the Firm to confidentiality. In the event that any such information is omitted, we shall disclose such and explain the grounds why it has not been disclosed.
The CRD, to which the Firm remains subject as a consequence of the UK CRDIII implementing Regulations, have three pillars; Pillar 1 deals with minimum capital requirements; Pillar 2 deals with Internal Capital Adequacy Assessment Process (“ICAAP”) undertaken by a firm and the Supervisory Review and Evaluation Process through which the Firm and Regulator satisfy themselves on the adequacy of capital held by the Firm in relation to the risks it faces and; Pillar 3 which deals with public disclosure of risk management policies, capital resources and capital requirements.
The regulatory aim of the disclosure is to improve market discipline.
The Firm is a MiFID Investment Management Firm.It provides a number of investment services including management, advice and brokerage.The Firm does not hold client money or assets.The Firm’s greatest risks have been identified as business and operational risk.The Firm is required to disclose its risk management objectives and policies for each separate category of risk which include the strategies and processes to manage those risks; the structure and organisation of the relevant risk management function or other appropriate arrangement; the scope and nature of risk reporting and measurement systems; and the policies for hedging and mitigating risk, and the strategies and processes for monitoring the continuing effectiveness of hedges and mitigants.
The Firm has assessed business and operational risks in its ICAAP and set out appropriate actions to manage them.
The Firm has an operational risk framework in place to mitigate operational risk.The Firm’s main exposure to credit risk is the risk that fees cannot be collected and as some fees are paid in advance or linked to transactions the risk of non-collection is low. Therefore, the overall credit risk is considered low.The Firm holds all cash and fee balances with banks assigned high credit ratings.
Market Risk exposure has been assessed by the Firm and is limited to the Firm’s exposure to foreign currency exchange rate risk and hence to any assets held on the Firm’s Balance Sheet denominated in a foreign currency. The Firms Reporting Currency is GBP and all foreign currency assets are converted into GBP where possible on a regular basis.
Background to the Firm
The Firm is incorporated in the
Only Investment & Portfolio Consultants Limited is covered by the ICAAP as the Firm is not a member of a UK Consolidation Group.
The Firm is a BIPRU Investment Firm without an Investment Firm Consolidation Waiver deducting Material Holdings under (GENPRU 2 Annex 4).