Introduction
The FCA has announced that, from the end of March 2025, there will be a change in how firms report to it online, with a move away from two individual websites for reporting and notifications. This change means firms will only need to log into one system to report to or notify the FCA, making the process simpler and easier to track with all information housed in one place.
What Will This Change Look Like?
The current systems, RegData, Connect, and the Online Invoicing System, will be integrated into a single platform known as My FCA with effect from 31st March 2025. The system will present firms with their scheduled and completed tasks, with the relevant due dates and statuses displayed within one system. Firms will be able to navigate between the RegData and Connect platforms within the My FCA platform without needing to log out of one system before logging into the other.
It is important to note that, with the implementation of My FCA, firms will not see changes to their reporting and attestation deadlines and will continue to receive ongoing reminder emails from RegData, Connect, and the Online Invoicing System. Additionally, the RegData and Connect systems will maintain the same user permissions as before. This means firms will not need to reassign ‘Principal,’ ‘Submitter,’ and ‘Read Only’ access to their current users.
What Can Be Accessed Through My FCA?
Firms will be able to access, edit, and submit a wide range of information through My FCA, including:
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- Preparing and submitting regulatory returns (See FCA Handbook: SUP 16);
- Completing and submitting attestations to the FCA;
- Accessing the RegData, Connect, and Online Invoicing System with one login;
- Reviewing FCA publications, such as Regulatory Round-up;
- Accessing the FCA Handbook;
- Reviewing the Financial Services Register; and
- Utilising the FCA’s Fees Calculator (See FCA Handbook: FEES 4).
Next Steps
The FCA has indicated that My FCA is expected to be in place by Spring 2025, but no exact launch date has been confirmed beyond the 31st March 2025 transition. Although firms may need some time to familiarise themselves with the new platform, the continuity of existing systems within it should facilitate a smoother transition.
How Can Complyport Help?
Complyport can help firms with any questions relating to reporting and compliance needs. We can assist by:
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- Report and Notification Preparation: Assisting firms with their reporting schedule and relevant notifications, including completing and submitting reports or reviewing drafts ahead of submission.
- Reporting Audit: Conducting audits of historical reporting, particularly financial reporting, to ensure accurate submissions to the FCA and, where necessary, advising on any required resubmissions.
- Outsourced Compliance Services: Providing staff to cover any compliance gaps within your firm due to unforeseen circumstances.
- Compliance Support: Addressing any queries your firm may have, whether related specifically to reporting/notifications to the FCA or broader compliance matters.
Contact Us
Our team can support firms in adapting to the FCA’s My FCA platform and ensuring accurate regulatory reporting. Contact us to book a consultation with a Subject Matter Expert.
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