UK Regulated Firms Stay Compliant with Governor Reg: FCA - their own live version of the FCA Handbook

UK Regulated Firms Stay Compliant with Governor Reg: FCA - their own live version of the FCA Handbook

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On Tuesday, 19 November, the Financial Conduct Authority (FCA) launched a new user interface to its online Handbook. This new web layout utilises Governor Software’s unique visualisation technology "GovernorReg: FCA" and provides FCA-authorised firms with an interactive version of the FCA Handbook, providing:

  • Increased visualisation of regulations,
  • Improved search functions,
  • Ability to filter directly to relevant items
  • The ability to download specific modules
  • A history feature allowing users to see changes by date.

Following 'User' feedback carried out by the FCA around its online FCA Handbook, 'Users' highlighted two main areas of concern;

  1. the ability to navigate the complex Handbook modules and the provisions contained within them and
  2. the ability to filter to relevant items and then download those items to files that users can use to link to their internal compliance programs.

As a result of this research, Governor Software have been working with the FCA to help them with a project to create a part of the FCA Handbook website that provides users with a 'map' view of all of the Handbook regulatory content. The new version of the FCA Handbook just released allows Users to navigate the information easily and have access to all of the history of the various regulations and guidance. All the information is searchable and can be filtered based upon type (section, guidance, rule, etc), topic and Handbook reference. Users can also identify the information relevant to them using the search and filter capability and then download the data into a .csv file that can be used in popular packages like MS Excel for further work.

To further help UK Regulated firms to stay compliant, Governor Software have developed a live version that is commercially available. 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. Using Governor Reg: FCA allows UK Regulated firms to link each of their compliance activities (policies, controls, tests) to the relevant rules and guidance, giving them 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 FCA Handbook structure.

Governor Reg: FCA also provides compliance teams to receive live regulatory newsfeeds 

To learn more about GovernorReg:FCA follow the link.

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Suzi Mutch