FCA Update on Digital Regulatory Reporting

The FCA has updated its webpage on digital regulatory reporting (DRR) by publishing –

• a video which explains the concept of DRR and outlines the work carried out by the DRR pilot group;
• a report which sets out an overview of the work and findings of phase I of its DRR pilot, which explored how firms and regulators could use technology to make the current process of regulatory reporting more accurate, efficient and consistent; and
• information on phase II of the DRR pilot, which will focus on addressing some of the gaps identified in phase I, in particular understanding the economic viability of DRR and exploring how it could apply to different product groups.