MIFIDPRU Public Disclosure 2023


Newcore Capital Management Finance LLP (“Newcore”) is authorised and regulated by Financial Conduct Authority (“FCA”).  The Firm has to satisfy the FCA’s Overall Financial Adequacy Rule by at least annually carrying out an Internal Capital Adequacy and Risk Assessment (“ICARA”) process which formally documents how Newcore assesses its own funds and liquidity requirements.

Alongside the ICARA, the Firm is required to make at least an annual public “MIFIDPRU Public Disclosure” based on its audited financial statements for each financial year end.  This MIFIDPRU Disclosure is for the period to 31st December 2023.

In terms of the FCA’s prudential rules, Newcore’s relatively non-complex business model and limited scope of permissions means it is treated as a Small Non-Interconnected Firm (“SNI”). Therefore, the FCA rules allow the Firm to apply proportionality in terms of the information provided in its disclosures. As Newcore meet its Own Funds requirement exclusively through the use of Common Equity Tier 1 capital (“CET1”), it is only required to make a disclosure on its remuneration policies and practices.

Read more here: MIFIDPRU Public Disclosure 31.12.2023