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FCA calls for technology for ‘smarter’ regulatory reporting

Neil Hodge | March 6, 2018

The Financial Conduct Authority (FCA) wants technology providers and regulated firms to share ideas about how regulatory reporting requirements can be made simpler and more consistent.

In a “Call for Input” issued last month, the United Kingdom’s financial services regulator has asked for financial services firms, regulatory technology (RegTech) providers, software developers, and other interested parties such as professional services firms and academics, to come forward with ideas as to how technology can help firms meet their regulatory obligations, help the FCA improve its supervisory and monitoring work, and re-shape and bolster current regulatory processes and systems.

The FCA wants to cut the amount of time that firms may take meeting “burdensome” reporting requirements, while also cutting down its own workload reviewing such reports. The FCA says that every... To get the full story, subscribe now.