Financial intermediaries may be able to challenge regulatory action taken against them if it is based on data electronically-submitted to the Financial Services Authority (FSA.
Financial services firms are being advised to carefully prepare for the FSA's new electronic reporting requirements, as firms are expected to disclose information from July 1st which is equivalent to a six-monthly FSA visit.
Mandatory electronic reporing requirements coming into force over the next couple of years should be a smooth process, as enabling technologies working behind the scenes have the support from software developers and industry, says the man heading the...