Why RegData reporting isn’t the problem
09.04.2026Speak to most IFAs about RegData reporting and the reaction is fairly similar. It’s seen as time-consuming, complicated and something that takes up far more headspace than it should.
But RegData itself isn't really the issue.
At its core, it’s simply structured reporting for the Financial Conduct Authority. It exists to make sure firms are operating transparently and meeting regulatory requirements. That’s not going to change and in many ways, it shouldn’t.
Where things start to feel difficult is in the way firms are managing the process behind it.
It’s the process that creates the pressure
Over time, RegData has evolved. There’s more detail involved, expectations around accuracy are higher and deadlines leave less room for error. On paper, that can make it feel like the reporting itself is becoming more demanding.
In reality, most of the pressure comes from how the data is pulled together.
Many firms are still relying on a mix of spreadsheets, disconnected systems and manual input. That often means going back and forth between sources, checking figures multiple times and trying to piece everything together under time pressure. It’s not unusual for reporting to take hours, sometimes even days.
That’s where the frustration builds. Not because RegData is inherently difficult, but because the process around it isn’t built to support it.
Why manual reporting no longer works
Manual reporting might have worked when requirements were simpler, but it’s becoming harder to sustain. The more moving parts involved, the more room there is for inconsistency, duplication and error.
Some firms look to outsourcing as a solution, which can ease the immediate pressure. But over time, that introduces ongoing costs without really improving visibility or control.
What’s missing is a system that brings everything together in a way that makes reporting straightforward rather than reactive.
Making RegData easier to manage
The firms that seem to handle RegData with less stress aren’t doing anything radically different in terms of compliance. The difference is that they’ve changed how they approach it.
Instead of treating reporting as a separate task every quarter, they’ve built it into their day-to-day processes. Financial data is kept up to date; everything sits in one place and reporting becomes a natural output rather than a last-minute exercise.
That shift removes a lot of the pressure. It also makes the whole process far more predictable.
How MyRegData supports that shift
This is where MyRegData comes in. Rather than being just another reporting tool, it’s designed to simplify the entire process from start to finish.
It combines RegData reporting with cloud-based bookkeeping, so the data you need is already there and up to date. All RMAR sections are covered, including Complaints and FIN073 and reports can be submitted directly to the FCA.
The aim isn’t just to make reporting faster, although many firms are able to complete their returns in under 30 minutes once set up. It’s to remove the need for constant rework, reduce the risk of errors and give firms more confidence in what they’re submitting.
It’s also built to be accessible. You don’t need to be a financial expert to use it and your accountant can be given free access, making working together much easier when it comes to year-end reporting.
It’s about more than efficiency
Saving time is often the first benefit firms notice, but it’s not the only one.
When reporting is handled in a more structured way, there’s less reliance on individuals, fewer last-minute checks and a clearer view of the firm’s financial position throughout the year. That consistency not only reduces stress, but it can also strengthen the overall value of the business in the long term.
For those who want a closer look, we’re hosting a short introductory webinar that walks through how MyRegData works in practice.
It covers the challenges many IFAs face with manual reporting, how the software simplifies the process and what it looks like to systemise RMAR reporting so it can be completed in a fraction of the time.
MyRegData – Introduction to the software
14th April at 11am BST
It’s a quick session with the chance to ask questions and see whether it’s the right fit for your business. Sign up here.
RegData isn’t going away and it’s unlikely to become less detailed. But the way it’s managed can make a significant difference. With the right approach, reporting stops being something that disrupts your time and becomes a straightforward part of running your business. Get in touch to find out more.
Sign up for a free trial today and see how our cloud accounting software can benefit your business.
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