ICARA process

180has the meaning in MIFIDPRU 7.4.9R, which, in summary, is the systems, controls and procedures set out in MIFIDPRU 7.4.9R(1) to (3) operated by a MIFIDPRU investment firm to:

1. (1) identify, monitor and, if proportionate, reduce all material potential harms that may result from the ongoing operation of, or winding down of, the firm’s business; and
2. (2) assess whether the firm should hold additional own funds and/or liquid assets to address material potential harms.