FSA advises on RMAR
The advice is for financial advisers, mortgage advisers and general insurance intermediaries.
The FSA has reviewed the sections of the RMAR that cause the most difficulty for small firms and developed a wide variety of tools to help them. These include: webpages, e-learning packages, roadshows and improvements to the Firm Contact Centre.
The tips and advice section, which is divided into sections that directly correspond with the return, may be of particular interest to firms.
The RMAR contains key business data that forms the basis of Integrated Regulatory Reporting (IRR) by intermediary firms. The FSA introduced electronic IRR in April 2005 to streamline the regulatory reporting process. The way of reporting is designed to be simpler to complete, tailored to each firm’s business and to make it easier for firms to do business with the FSA.
The RMAR help page is the latest information from the FSA designed to help small firms. It has already introduced webpages dedicated to small firms that contain targeted newsletters, frequently asked questions, top tips, and information about training and events.