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FCA previews digital compliance reporting for mortgage brokers and lenders

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  • 16/08/2018
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FCA previews digital compliance reporting for mortgage brokers and lenders
The Financial Conduct Authority (FCA) is offering mortgage brokers and lenders the chance to understand and give feedback on its development of digital regulatory reporting.

 

The regulator is working alongside the Bank of England on a pilot project to enable firms to fulfil their regulatory reporting digitally.

This is built on the TechSprint event held in November 2017 where participants successfully developed a proof of concept which could make regulatory reporting requirements machine-readable and in a form that allows the machine to use the data.

If successfully completed, this would mean firms could map the reporting requirements directly to the data they hold, creating the potential for automated, straight-through processing of regulatory returns.

To support this work the FCA is holding two open demonstration and Q&A sessions to give attendees an opportunity to understand the technological, governance and legal decisions made throughout and allow an opportunity to critique and review the work.

The open days will be held on 22 August and 28 September.

Those interested in attending either session should email the regulator at regtech@fca.org.uk.

 

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