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
The sectors we work with...
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Investment Firms
Our large team of wholesale industry experts work with clients including hedge fund managers, private markets firms, brokers and corporate finance firms.
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Digital Finance
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.
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Consumer Finance & Insurance
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 Finance & Insurance
