Focus Solutions says it already has a tool ready to meet the FSA's electronic reporting requirements, which combines data translation capabilities with the ability to handle multiple administration systems.
XBRL, the standard chosen by the FSA for the data feeds from regulated firms, is a variant of XML, which will allow for greater manipulation of the data received. Manipulating the data will, for example, enable the regulator to look for patterns indicating possible problems Focus says its MCA:Reporter product will be able to translate data into XBRL from “multiple client administration systems”, enabling a single data feed to the FSA under the new regime. The ability to merger different data sources into a single stream is expected to be a greater issue for larger organisations, F...
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