The UK Financial Conduct Authority (FCA) has expandedits recently launched 'My FCA' portal to allow regulated firms to manageinvoices and credit tasks from a single access point. The move is part of the regulator’s ongoing effort tostreamline operations and reduce the administrative burden on firms.No More Switching Between PlatformsStarting today (Monday), firms authorized andregistered with the FCA can complete Online Invoicing System (OIS) tasksdirectly through the My FCA portal. The FCA will reportedly notify firms viaemail when an invoicing task is due. Annual fee invoices will still be issuedbetween July and September, with no changes to the timing.Previously, firms needed to use up to three differentplatforms—Connect, RegData, and the standalone invoicing system—to meetreporting and payment obligations. The integration into My FCA reportedly removes thatcomplexity.Read more: FCA Sees Progress in Smaller Firms; Are CFDs Coming Under the Radar of High-Risk Investments?"From today, registered and authorised firms canaction their invoices and credit tasks via My FCA," the regulator wrote in a Mondaypost. "Firms will receive emails to let them know when anOnline Invoicing System (OIS) task is due in My FCA." It added: "There will be no change to the timing of annual feeinvoices. They will be issued to firms between July and September."According to the watchdog, firms registered formulti-factor authentication can now sign in to My FCA using the samecredentials they use for existing systems. This means users will no longer haveto juggle multiple passwords or interfaces when handling their regulatoryresponsibilities.Part of a Wider Digital OverhaulThe update is part of the Transforming Data Collectionprogramme, a joint project between the FCA and the Bank of England that aims to improve the way regulatory data is collected and used.In March, the FCA launched the My FCA portal as aone-stop shop for firms to handle regulatory reporting and fee payments. From31 March 2025, the portal is expected to become the main access point for allkey reporting and compliance tasks.The new system aims to improve efficiency andusability for firms. By centralizing tasks that were previously spread acrossdifferent systems, the FCA aims to make regulatory compliance more manageable.This article was written by Jared Kirui at www.financemagnates.com.