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What is a BIPRU firm?
A regulated BIPRU firm is one that falls within the scope of the regulator’s prudential sourcebook for Banks, Building Societies and Investment Firms - known as BIPRU.
There are different classifications of BIPRU firm, with differing regulatory capital requirements placed upon them by the regulators such as:
How do I know if my Firm is a BIPRU firm?
In the FCA Handbook, a BIPRU firm, is one that is authorised to provide one or more the following investment services:
- execution of orders on behalf of clients;
- portfolio management;
In addition, the firm may provide one or more of the following investment services:
- reception and transmission of orders in relation to one or more financial instruments;
- investment advice;
However, there are exclusions for certain types of firms, from the definition of a BIPRU Firm.
The following capital adequacy decision tree from the FCA provides greater detail on the assessment of firm types.
If you should require any assistance in establishing your own category, we would be happy to help, so please do get in touch.