The reporting of financial (capital and liquidity) and non financial information is very important for the Financial Conduct Authority (FCA) to effectively supervise firms. For many firms, this will be the only contact they have with the regulator throughout the year.
IPRU firms and banks have to submit COREP returns which cover own funds, large exposures, liquidity and unencumbered assets. These returns have to be submitted in XBRL format. The majority of reporting is done through the FCA’s RegData web portal (previously Gabriel) and can appear to be deceptively simple.
However, there are a lot of common mistakes that are made. The FCA analyses the returns and will pick up issues and anomalies which they will raise with you, inviting unwanted regulator attention.
We support 22 different types of regulatory return, offering three levels of service:
We review your regulatory filing reports before you submit them to the regulator
We prepare your regulatory filing reports which you then review and submit to the FCA
Where we prepare the regulatory filing report, we upload them onto the relevant platform once you have approved them
Our team includes highly experienced accountants and compliance consultants from industry and the regulator. They handle reporting for a large number of clients and have worked on s166 skilled persons reviews in this area.