The UK Financial Conduct Authority (FCA) has expanded its recently launched ‘My FCA’ portal to allow regulated firms to manage invoices and credit tasks from a single access point. The move is part of the regulator’s ongoing effort to streamline operations and reduce the administrative burden on firms.

No More Switching Between Platforms

Starting today (Monday), firms authorized and registered with the FCA can complete Online Invoicing System (OIS) tasks directly through the My FCA portal. The FCA will reportedly notify firms via email when an invoicing task is due. Annual fee invoices will still be issued between July and September, with no changes to the timing.

Previously, firms needed to use up to three different platforms—Connect, RegData, and the standalone invoicing system—to meet reporting and payment obligations. The integration into My FCA reportedly removes that complexity.

Read more: FCA Sees Progress in Smaller Firms; Are CFDs Coming Under the Radar of High-Risk Investments?

“From today, registered and authorised firms can action their invoices and credit tasks via My FCA,” the regulator wrote in a Monday post. “Firms will receive emails to let them know when an Online Invoicing System (OIS) task is due in My FCA.” It added: “There will be no change to the timing of annual fee invoices. They will be issued to firms between July and September.”

According to the watchdog, firms registered for multi-factor authentication can now sign in to My FCA using the same credentials they use for existing systems. This means users will no longer have to juggle multiple passwords or interfaces when handling their regulatory responsibilities.

Part of a Wider Digital Overhaul

The update is part of the Transforming Data Collection programme, a joint project between the FCA and the Bank of England that aims to improve the way regulatory data is collected and used.

In March, the FCA launched the My FCA portal as a one-stop shop for firms to handle regulatory reporting and fee payments. From 31 March 2025, the portal is expected to become the main access point for all key reporting and compliance tasks.

The new system aims to improve efficiency and usability for firms. By centralizing tasks that were previously spread across different systems, the FCA aims to make regulatory compliance more manageable.

This article was written by Jared Kirui at www.financemagnates.com.Retail FXRead More

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