Regulatory reporting

All regulated businesses have a duty to provide accurate and timely regulatory returns, including those related to the adequacy of their financial resource requirements. Mis-interpreting these rues or having inadequate processes can lead to costly errors. Firms may inadvertently hold, or be forced to hold by regulators, higher levels of capital or liquid assets, or they could even be restricted in terms of the amount and types of business they conduct.

In addition, since the FCA announced its Transformation Programme as part of its 2021/22 Business Plan, there has been an increased instances of s165 letters being sent to firms who submit regulatory returns late or with errors. It has never been more important for firms to ensure their regulatory returns are correct and on time.

regulatory reporting guide

Prudential Services

Regulators are increasingly focussed on the financial adequacy of firms and, in particular, ensuring that all regulated businesses hold sufficient financial resources to mitigate the risk of harm they pose to customers and the wider financial services sector. As regulatory expectations continue to evolve, firm’s cannot afford to navigate these complex rules and historic guidance incorrectly.

All FCA regulated businesses, no matter where they are in their lifecycle, need to be sensitive to their prudential requirements. Whether that relates to their regulatory reporting, group and capital structures, approaches to risk management, or their interpretation of the relevant rules and requirements.

Advisory services guide

Our services

Regulatory Reporting

Regulatory reporting is the main regular communication the FCA has with most firms. Mistakes in regulatory reporting can lead the FCA to conclude that the firm’s controls are not at an appropriate level, and lead to further investigation. We can help ensure that firms get it right the first time.
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Capital and Liquidity Adequacy

The FCA is looking very closely at the financial stability of firms which it regulates. We help firms to monitor that they are meeting their regulatory capital requirements on an ongoing basis, and that their liquidity testing meets the FCA’s expectations.
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Wind-down planning

The FCA has made it clear that all regulated firms need to understand how they would wind-down their business in practice. We have assisted numerous firms with theirs, so understand the scope and level of detail the FCA expects.
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The IFPR introduced a new capital adequacy and risk assessment and supervisory review and evaluation process - the Internal Capital and Risk Assessment (ICARA). Our in-house prudential experts can help firms to master it.
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The IFPR introduced a suite of changes to how firms determine their financial resource requirements. We can help firms to review their implementation to ensure they adhere to the FCA’s high standards.
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The sectors we work with...

  • Wholesale Investment Firms forest

    Wholesale Investment Firms

    Our large team of wholesale industry experts work with clients including hedge fund managers, private markets firms, brokers and corporate finance firms.

  • Capital Markets forest

    Capital Markets

    Our Capital Markets team use their experienced regulatory knowledge to help asset managers and broker dealers with a full service offering over a large spectrum of regulatory issues.

  • Wealth Management forest

    Wealth Management

    Cosegic’s experienced Wealth Management team can help you interpret the regulations, using our in-depth knowledge to simplify complex regulations.

  • Payment Services Cryptoassets forest

    Payment Services and Cryptoassets

    Our industry leading team know the regulatory landscape inside out, with our experience extending from traditional and challenger banks, authorised e-money and payment institutions through to fintechs and cryptoassets.

  • Insurance Mortgages Claims forest

    Insurance, Mortgages and Claims

    We advise clients ranging from insurance brokers, insurance companies, managing general agents and intermediaries involved in insurance mediation, such as motor dealerships and call centres.

  • Consumer Credit forest

    Consumer Credit

    We have eased the compliance burden for lenders and brokers across numerous consumer credit firms in sectors ranging from motor sales, healthcare and agriculture to retail, training, and utilities.

Our team

Our team led by Harpartap Singh, a recognised regulatory capital and liquidity specialist, includes highly experienced accountants and compliance consultants. They handle reporting for a large number of clients and have worked on s166 skilled persons reviews relating to capital and liquidity requirements.