Insurecom has launched a new fully automated application for building comprehensive FSA reports.
The FSA toolkit can help brokers with RMAR reports, client money calculations and other related FSA financial reports.
The product launch follows a survey by Insurecom that reveals brokers have been forced to employ consultants to help with FSA reporting.
Laura Waples, Insurecom's head of marketing, said: "Average brokers are spending up to and sometimes in excess of £2,000 per month employing compliance consultants, auditors and accountants to process all the information required by the FSA and supply the right reports in the right format.
"The over-reliance on external consultants to assist brokers has led to significantly increased costs and lack of control, and a liability which ultimately resides with the broker if the consultants make a mistake."
The application has been demonstrated to the FSA.
