BIPRU refers to well-know but, officially not used from the start of the 2014, definition of certain type of UK financial institutions. The term was used as an acronym to Prudential Sourcebook for Banks, Building Societies and Investment Firms. Although the BIPRU definitions are formally outdated, they still specified in the glossary of the handbook of the Prudential Regulation Authority.
From the start of 2014, regulation of BIPRU was officially replaced by the CRR (Capital Requirements Regulations) which established new management regulation for credit and investment institutions. The Prudential Regulation Authority implemented the CRR into the regulation, but in the same time FCA introduced Prudential sourcebook for investment firms.
BIPRUs are companies whose main business includes the organization of investment capital management or speculative transactions with financial instruments, in accordance with sections 5, 6, 7, 9 and 10 of Section “C” of the MiFID.
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