PIMFA
20 January 2022
MyRegData becomes latest PIMFA Plus Partner
PIMFA, the trade association for wealth management, investment services and the investment and financial advice industry, is delighted to welcome Financial Conduct Authority (FCA) RegData reporting tool MyRegData as the latest of its PIMFA Plus partners.
MyRegData is a unique cloud-based application that meets the specific needs of financial advice firms which need to file RegData returns. It delivers a structured, systemised method of dealing with the capture of data for the RegData return and automates many of these tasks using intelligent software to substantially reduce the number of hours and the stress that many firms experience when dealing with this FCA mandated report to no more than 15 minutes.
MyRegData has been developed with the assistance of industry experts who identified the need for a system that completes all sections of RegData. It comes as the FCA has completed its migration over to its new RegData system first announced in 2019.
The platform has been designed to keep pace with changes as advice firms and wealth managers go through the process of migrating to the new RegData system. MyRegData also maintains direct communication with the FCA’s technology team, allowing for changes to be made as they are implemented by the FCA meaning the software always remains compliant.
Anthony Boggian, Director of MyRegData, commented: “We know that for a very large number of advice firms the twice annual RegData return can be a serious cause of stress. Taken together with the migration to the FCA’s new RegData system, it is understandable that many firms will find this requirement daunting.
“MyRegData will help to reduce the administrative burden on firms, particularly smaller firms, for whom the twice annual FCA submission through RegData has been until now nothing more than a twice-yearly headache.”
Richard Adler, PIMFA’s Director of Strategic Partnerships commented: “PIMFA is delighted to welcome MyRegData as a PIMFA Plus partner. People today transact ever more business online and are required to process ever greater amounts of data. This is particularly burdensome for smaller firms, so any solution that enables them to continue to concentrate on their main job and reduce the administrative burden I’m sure will be welcome.”
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NOTES TO EDITORS
About PIMFA – the Personal Investment Management & Financial Advice Association
• PIMFA is the trade association for firms that provide investment management, investment services and advice to everyone from individuals and families to charities, pension funds, trusts and companies.
• The sector currently looks after £1.65 trillion in private savings and investments and employs over 63,000 people.
• PIMFA represents both full and associate member firms. Full members provide a range of financial solutions including financial advice, portfolio management, as well as investment and execution services. They assist everyone from individuals and families to charities and pension funds, all the way to trusts and companies. Associate members provide professional services to the PIMFA community.
• PIMFA leads the debate on policy and regulatory recommendations to ensure that the UK remains a global centre of excellence in the wealth management, investment advice and financial planning arena. Our mission is to create an optimal operating environment so that its member firms can focus on delivering the best service to clients, providing responsible stewardship for their long-term savings and investments.
• PIMFA has made numerous recommendations to the FCA regarding the Future of Advice, the Future of Supervision, & the FSCS levy – read more.
• PIMFA was created in 2017 as the outcome of a merger between the Association of Professional Financial Advisers (APFA) and the Wealth Management Association (WMA) with a history as a trade association since 1991 – read more.
• Further information can be found at pimfa.co.uk
Contact
For further information on this release or other press matters please contact:
- Matthew West, PIMFA PR Manager – MatthewW@pimfa.co.uk, +44 (0)20 7382 0376
- Sheena Gillett, PIMFA Communications & PR Director – sheenag@pimfa.co.uk, +44 (0)20 7011 9869 / +44 (0)7979 493225
