UK regulatory reporting
IRR
Integrated Regulatory Reporting (IRR) was introduced following the FSA's 2003/2004 Plan and Budget commitment to harmonise the existing multiplicity of inconsistent reporting requirements
FRSGlobal's IRR solution is part of the proven RegPro suite and provides all of the report templates essential for the FSA reporting requirements. Populating these reports will call for a diverse range of information from many systems such as back office, accounting and risk. FRSGlobal RegPro allows for this information to be collated, calculated, validated and stored in one central repository.
The FSA IRR reports cover the necessary COREP data requirements for the UK as well as the regulatory reporting side of Basel II (Pillar I & II). A module of RegPro for IRR, FRSGlobal Risk Measurement is a complete solution for data storage, data assessment and reporting of regulatory capital requirements as proposed under the new Capital Accord, known as the Basel II agreement.
FRSGlobal's IRR solution fully supports the required electronic submission via the FSA's GABRIEL reporting mechanism.
Non-compliance or the provision of inaccurate or late data is an enforceable offence and liable to a monetary fine or worse. FRSGlobal RegPro is an essential tool for any organisation wishing to ensure the timely and accurate delivery of regulatory reports.
BoE
The Bank of England is committed to promoting and maintaining monetary and financial stability as its contribution to a healthy economy. As such the reporting requirements are different to that of the FSA. The Bank requires statistical information such as Balance Sheet information and Profit & Loss. FRSGlobal has a Bank of England statistical reporting module as part of its RegPro solution and this covers the reporting requirements for most firms as well as providing a link to the BEERS electronic reporting process for the Bank of England
