RegTech firm Governor Software has released a live version of the Financial Conduct Authority (FCA) Handbook which lets UK financial institutions map, track and report regulatory compliance.
This has been integrated into the FCA Handbook website to enhance overall user experience, improve navigation and provide .csv downloads of relevant items.
Founder and chief executive Richard Pike explained that the regulator developed the update in conjunction with Governor Software’s visualisation technology to improve search functions, give downloads of specific modules and a history feature allowing users to see changes by date.
“To further help UK-regulated firms to stay compliant, we have developed a live version of Governor Reg: FCA that is directly available for commercial clients,” he stated. “This version allows clients direct access to a live copy of all of the FCA regulations within their compliance system.”
The content is updated as the FCA makes changes and alerts users to exactly what changes have been made and when. Firms can link each of their compliance activities - policies, controls, tests - to the relevant rules and guidance, giving a clear map of where they have regulatory coverage and where they have issues.
“This live version also helps both the firm and the FCA when there is a supervisory visit as the regulated entity has already stored their compliance data in the FCA format, in accordance to the handbook structure,” added Pike. “Governor Reg: FCA also provides compliance teams to receive live regulatory newsfeeds via Corlytics RED.”
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