Did you know?
Version 3.3 of CCD can now aid you
with completion of your FSA RMAR reports.
This is due to the fact that all products/holdings
have now been labelled as to which category they fall
into under FSA rules i.e. An Individual Savings Account
is classed as a Regulated, Retail Investment.
You can even take things one stage
further by labelling your commission expectations and
collating the type of income your Firm is generating.
Entering the information into CCD
To see how other products have been
labelled visit the Set up of CCD followed
by Products, select your chosen product
and click into it. You will now see
a new FSA Reporting tab with details
as to how this product has been categorised.
So by simply inputting your new business
into the Holdings section of CCD in the normal manner
your FSA data will automatically be collated.*
When entering your Commission expectations
there is one additional step you must take to ‘label’
your commission. Enter your holding
followed by the Commissions category
on the lefthandside. Now state the type of initial
commission. Use the Add commission
item at the top right of your screen. Having
entered the amount of your commission
the last stage is to enter the Notes
tab. At the bottom you will now need to select what
income type this is i.e. does the FSA class
this as Commission, Fees or Other.
Producing reports
for your RMAR* **
To extract this information, first
for the type of business you have sold, visit the Compliance
section. Now select the Reports option,
followed by Regulatory. You are now
able to select your required date range and the second
option is to produce a report of Source of Business
within a date range.
Additional reports can also be found
in the Compliance, Reports, Regulatory section.
Again state the date range you are interested in. Here
you can now chose to either produce an Analysis
of Regulated Business revenue or Analysis
of non-regulated Business.
Others reports are also available
in this section. Hopefullly these should help when completing
your RMARs.
*This functionality is only available
in version 3.3.
**The Compliance Module has an
additional associated cost. If you are interested in
finding out the cost of this module or other functionality
that it includes please contact our sales team on 01279
756 060 for assistance.
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