The IFR/IFD prudential regime

Under the new IFR/IFD prudential regime that kicked in from June 26, 2021, Class 2 (medium) & Class 3 (small) investment firms in the EU need to comply with new reporting requirements.

For Class 2 investment firms, the reporting obligation is quarterly. It will commence from September 30, 2021, with the first submission expected by November 11, 2021.

For Class 3 investment firms, the reporting obligation is annual, and will commence from December 31, 2021. The first submission is expected by February 11, 2022.

*Large investment firms — those in Class 1, 1a and 1b — will continue to comply with the CRR/CRD IV regime which applies to deposit-taking credit institutions.

What we offer

You will have at your disposal a state-of-the-art regulatory compliance software — IRIS iDEAL® — for IFR/IFD reporting. Our product can help you with other similar XBRL reporting mandates as well in the EU.

Who are we?

With over 15 years of XBRL experience, IRIS is known for its quality of XBRL reporting offered across 40 countries. We work with thousands of clients ranging from Fortune 500 companies and an impressive list of banks, credit institutions, and investment firms worldwide to several smaller entities.

IRIS’ software for ESMA ESEF reporting is presently in use by hundreds of EU customers. We know our way around EU regulators such as the ESMA and the EBA.

Our expertise cuts across industries including banking and finance, insurance, manufacturing, and services. We also work closely with regulators, including central banks, securities commissions, stock exchanges and business registries across the world.

Our experience, in a nutshell