Although firms can apply for waivers and modifications for the UK Financial Services Authority’s (FSA) liquidity risk reporting regime, these will not exempt firms from all of the compliance requirements that will impact their technology systems, warned Selwyn Blair-Ford, senior domain expert for FRSGlobal during a webinar on the subject last week. The timescales involved also mean those that are waiting for a waiver before they implement their system changes to comply with the regime may only have a month to do all the work required for full compliance if their application is rejected.

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