Regulations
Below you will find a summary of the various disclosures applicable to FCA regulated MiFID firms. For a more detailed level of understanding, we recommend that you consult the relevant chapters of the FCA handbook or speak with us directly.
MIFIDPRU 8
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The spirit of regulations is that the disclosure should be publicly available. Making your disclosures available at the firm’s registered office or upon request would not meet regulators expectations.
Your disclosures must be published at least once a year, with more frequent publication being determined by the characteristics of your business and the level of risk exposures or other rapidly changing factors. It's up to you to determine the appropriate medium, location, and means of verification for effective disclosure. Ideally, all disclosures should be in one place, and if not included in financial statements, a note should be added indicating where they can be found.
If your financial statements are filed on a public register, the disclosures are considered effective. However, they should be filed as soon as the information becomes available, and disclosures are generally not updated until the following year. A website is often the most practical medium for disclosures as it can be updated anytime. However, if website disclosures are not compatible with the purpose of your website, RegDisclosures can offer an alternative means of disclosure.
Stewardship Code
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This should be kept up to date in accordance with the firm's current policy and requirements of the code. This is not a MIFIDPRU 8 requirement but in the UK firms are expected to disclose their policy on their website or if they do not have a website, in another accessible form.