Why RMAR reporting takes hours
10.03.2026For many IFAs and regulated firms, RMAR reporting is one of those tasks that quietly eats up hours every reporting period.
The Retail Mediation Activities Return (RMAR), submitted through the FCA’s RegData system, is essential for regulatory compliance. But despite being routine, it often becomes a time-consuming process involving spreadsheets, financial records and cross-checking data across multiple systems. If you’re unfamiliar with how the system works, read our guide to FCA RegData reporting.
For smaller firms, this can mean a lot of manual work and when reporting deadlines approach, the pressure builds.
So why does RMAR reporting take so long in the first place?
The problem with manual RMAR reporting
When firms prepare RMAR returns manually, the process often looks something like this:
- Pulling financial data from bookkeeping software or spreadsheets
- Checking income categories and commission figures
- Reconciling complaints data
- Manually completing each RegData section
- Reviewing everything to avoid FCA errors or resubmissions
Each step might seem manageable on its own. But combined, they quickly add up.
For many firms, producing a full RMAR report manually can take several hours, sometimes spread across multiple days, especially if data needs to be gathered from different sources or reviewed by multiple people.
Common challenges include:
Data scattered across systems
Bookkeeping, CRM platforms and spreadsheets rarely talk to each other, which means information has to be manually collated.
Manual calculations and checks
Even small mistakes can cause FCA validation errors, requiring time-consuming corrections.
Regulatory changes
The FCA periodically updates reporting requirements, which can mean adapting spreadsheets or processes.
Time pressure around deadlines
When reports are left until the final weeks of the reporting window, the workload increases significantly.
Why RMAR reporting is becoming a bigger topic
Compliance requirements in financial services continue to evolve and firms are facing growing pressure to ensure reporting is accurate, timely and auditable.
Recent regulatory discussions have also increased focus on:
- Data accuracy in regulatory submissions
- Operational efficiency for regulated firms
- Reducing compliance burdens through digital tools
As a result, many firms are reviewing their internal processes and looking for ways to streamline routine reporting tasks like RMAR. Automation is becoming an increasingly popular solution.
Manual vs automated RMAR reporting
When firms switch from manual reporting to purpose-built software like Liquid, the time difference can be dramatic.
| Process | Manual reporting | Automated reporting |
| Collecting financial data | Multiple spreadsheets and systems | Automatically stored in one place |
| Calculations | Manual formulas and checks | Automatically calculated |
| Completing RegData sections | Entered individually | Pre-populated from existing data |
| Submitting to the FCA | Manual upload | Direct submission |
For many firms, what previously took hours can be reduced to minutes.
Completing your RMAR report in under 30 minutes
This is exactly what MyRegData, from Liquid Accounts, was designed to solve.
Once your firm is set up and trained on the system, all sections of your RegData report can be completed in under 30 minutes. The software includes everything needed to complete your regulatory reporting in one place.
Complete RegData reporting
All RMAR sections A to K, plus Complaints and FIN073, are included in the platform so firms can complete their entire report in one system.
Cloud bookkeeping included
MyRegData isn’t just reporting software. It also includes full cloud bookkeeping, helping firms keep financial records organised throughout the year, making reporting even easier.
Direct FCA submission
Reports can be submitted directly to the FCA from within the platform, reducing the need to re-enter data or upload files separately.
Training and support
Every firm receives full training and telephone support, ensuring they can get set up quickly and use the system effectively.
Accountant collaboration
Accountants can be invited into the platform at no extra cost, making collaboration on bookkeeping and year-end reporting much simpler.
Designed for non-finance specialists
You don’t need to be a financial expert to use the system. MyRegData is built so anyone in the firm can manage RegData reporting confidently.
Reducing the compliance burden
RMAR reporting will always be a required part of running a regulated firm. But it doesn’t need to take hours of manual work every reporting period.
By bringing bookkeeping and regulatory reporting together in one system, tools like MyRegData can significantly reduce the time and stress involved in preparing your return.
For many firms, what used to be one of the most time-consuming compliance tasks can now be completed in less than half an hour.
Take the headache out of RegData reporting with MyRegData and try it for free.
Sign up for a free trial today and see how our cloud accounting software can benefit your business.
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