The Investment Firms Regulation and Directive (the "IFR/D Package") became applicable on the 26th of June 2021, introducing a new prudential framework applicable to investment firms. Before the introduction of the new prudential framework, investment firms were subject to the Capital Requirements Regulation and the Capital Requirements Directive. Investment firms must note that certain small firms will still be subject to the Capital Requirements Regulation ("CRR"). Furthermore, investment firms will still be subject to MiFIR and MiFID II irrespective of the classification as explained below.Credit institutions offering MiFID related services are out of scope of the IFR/D package and therefore…
Anthea Sammut4th November 2021