The Financial Sector Conduct Authority (FSCA) is preparing to roll out its Integrated Regulatory Solution (IRS) – a new supervisory technology (SupTech) platform designed to streamline regulatory processes and transform how financial institutions interact with the regulator.
In June 2025, the FSCA released an update on the IRS through Communication 12 of 2025. This followed the release of the FSCA’s Regulatory Strategy for 2025–2028 in May, which outlined the IRS’s role in modernising licensing processes, enhancing risk-based supervision and improving regulatory data collection and analysis.
The IRS represents a significant shift in the FSCA’s regulatory and supervisory capabilities – moving toward a more integrated, technology-driven model that reduces administrative burdens while strengthening oversight and engagement with financial institutions.
What is the IRS?
The IRS is a SupTech platform that consolidates all regulatory functions into a single, streamlined system. It aims to manage licensing, supervision, enforcement and specialist support activities through one centralised platform.
It is designed to enhance visibility, reduce fragmentation and support a more consistent approach to regulation by offering:
- A single integrated system with one consolidated profile per supervised entity.
- Standardised processes for regulatory data collection and risk assessment across FSCA functions.
- An automated risk model that draws on key data points to generate dynamic risk profiles and enable a more comparative, risk-based approach to supervision.
- A central data repository to ensure that all supervisory information is stored in one place.
- A 360-degree view of each supervised entity, accessible in real time to all relevant FSCA teams.
Why is the FSCA implementing this system?
The IRS supports the FSCA’s goal of becoming a more agile and data-driven regulator. As outlined in its 2025–2028 Regulatory Strategy, the system is a key part of preparations for the Conduct of Financial Institutions (COFI) Bill and will help improve regulatory outcomes for financial customers.
To support this, the FSCA has adopted a multi-year Digital Transformation Strategy and is investing in new technology to modernise licensing, enhance risk-based supervision and enable quicker, more targeted responses to emerging risks.
How will it impact FSPs?
FSPs can expect a more automated and transparent interaction with the FSCA. The system will be used to manage a wide range of activities. These include licence applications, changes and exemptions; supervision activities such as regulatory returns; levy checks; and personalised dashboards – all through one central platform.
The FSCA hopes that this, among other benefits, will make it easier for FSPs to apply for licences and submit information to the regulator. It will reduce paperwork and allow FSPs to track the progress of their submissions and access any updates they might need.
What happens now?
While no go-live date has been confirmed, the FSCA has stated that they will release a detailed engagement and communication plan, and a pilot of the IRS platform is scheduled for Q3 2025. Financial institutions will have at least a year to prepare before the system goes live.
At Masthead, we’ll continue to monitor the situation, and update and support our clients through every step of the FSCA’s transformation.
For more information, please contact your Compliance Officer or the regional office closest to you.