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Governor launches live FCA handbook to track compliance

Richard Pike, Founder and CEO, Governor Software

Governance and oversight solution provider Governor Software has launched Governor Reg: FCA, a live version of the Financial Conduct Authority Handbook which allows UK regulated financial institutions to map, track and report regulatory compliance.
Governor Reg: FCA uses Governor Software’s visualisation technology, providing FCA authorised firms with a live copy of the FCA Handbook. This gives them search functions, increased visualisation of regulations, and the ability to download specific modules. An inbuilt history feature allows users to see changes by date, whilst the cloud-based solution also provides breaking UK regulatory news, powered by industry leading regulatory intelligence from Corlytics, in real time.
To date, said Governor, financial institutions have had to manually map their FCA regulatory obligations in tools not purpose built for compliance oversight, such as Microsoft Excel, and manually manage status and obligations with an error-prone and non-auditable operational model. This, it said, not only exposes institutions to unnecessary risk but also prevents them from proactively managing ongoing changes within specific regulations.
“A key component of good governance is good oversight,” commented Richard Pike, Founder and CEO, Governor Software. “However, the key challenge to effective oversight for FCA authorised firms is the communication of obligations set out in the FCA Handbook, and the subsequent proof of adherence to relevant stakeholders. Governor Reg: FCA is unique in that it provides compliance teams with a structured list of tasks and evidence documents, which may be interfaced to their internal systems. All of this is completed within a structured and auditable platform that supports compliance management becoming less fraught.”

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