FCA spends more than £360k on handbook upgrade

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The FCA has spent nearly £370,000 on producing its ‘intelligent’ regulatory handbook, a Freedom of Information Act request has revealed.

In an FoI request submitted by Panacea Adviser and seen by Fund Strategy sister publication Money Marketing, the regulator confirmed the total cost of its work on the handbook was £367,138.80.

The ‘intelligent’ handbook has been developed so that the online version is a fully searchable data-base. Advisers can search the handbook by theme, activity or business type. The existing material in the handbook can now be tagged and machine read.

The regulator worked with technology firm Corlytics on the project.

The old version of the online handbook used different technology, which split the document into blocks that were subdivided into modules and further divided into chapters.