Nearly two in five intermediary firms have not begun to prepare themselves for the Financial Services Authority's (FSA's) mandatory electronic regime, according to a recent poll.
The research which was conducted by 1st, a technology provider, also showed that only 46% of the respondents had started to get ready for the new reporting regime. Shockingly, some 13% admitted they had not heard of online reporting. Earlier this year, the FSA requested that all advisers start to collect the required information for online reporting from April 2005 to prepare for the first electronic submissions in July 2005.
