Purpose
Ensure regulatory submissions are complete, accurate, authorized, timely and evidenced, in accordance with the Communication Framework (section 4) and Reporting Calendar (section 5) of the approved Regulatory Reporting & Communication Manual.
Communication Framework Requirements
All regulatory communication must adhere to the following standards:
Tone: All communication with regulatory authorities must be professional, transparent, factual, and timely. Submissions or responses must:
- Present information objectively, without speculation or unnecessary interpretation.
- Avoid jargon and use clear, precise language that regulators can easily understand.
- Reflect transparency by disclosing all relevant facts, even if adverse, while highlighting corrective measures already taken.
- Be delivered within regulatory deadlines to demonstrate reliability and respect for supervisory processes.
Format: The preferred format for communication with regulators is written correspondence, unless otherwise directed by the authority. This includes:
- Formal letters for official submissions, signed by authorized representatives.
- Emails for routine updates, clarifications, or requests for information, ensuring professional tone and formatting.
- Regulatory portals where mandatory filings (e.g., FIU reports, tax submissions, CBCS templates) must be uploaded in the required format.
- In-person or telephone conversations should be minimized, and when they occur, they must be documented in writing immediately afterward.
Steps
| # | Action | Details | Evidence |
|---|---|---|---|
| 1 | Open filing record | Confirm scope, deadline, template and responsible parties, referencing the reporting calendar for the applicable authority, report type, frequency, and deadline. | Filing checklist with scope confirmation |
| 2 | Collect and reconcile source data | Collect controlled source data and reconcile material totals and classifications. | Reconciliation notes and source evidence |
| 3 | Prepare report | Prepare with factual, clear and complete explanations; present information objectively without speculation; avoid jargon; use clear, precise language that regulators can easily understand. | Draft report |
| 4 | Record assumptions and judgments | Record assumptions, judgments, adverse facts and corrective measures; ensure transparency by disclosing all relevant facts even if adverse, while highlighting corrective measures already taken. | Assumptions and judgments log |
| 5 | Perform independent review | Review against source evidence and requirements (maker-checker). | Maker-checker review record |
| 6 | Obtain authorized approval | Obtain the required authorized approval or signature from the designated authorized representative. | Approval signature or authorization record |
| 7 | Submit report | Submit through the required portal or channel (regulatory portal, formal letter, or email as applicable) before the deadline. | Portal receipt or submission confirmation |
| 8 | Document verbal communications | If in-person or telephone conversations occur during the submission process, document them in writing immediately afterward. | Written documentation of verbal communications |
| 9 | Retain records | Retain the final report, evidence, review, approval and submission receipt. | Retained filing package |
| 10 | Track follow-up | Track regulator questions and corrective action to closure. | Follow-up log and closure records |
Records
- Filing checklist and source evidence
- Reconciliation and review (maker-checker)
- Approval and final submission (with authorized signature)
- Portal receipt and follow-up
- Written documentation of any in-person or telephone communications
Relationships
- Policy: POL-REG-001 Regulatory Reporting and Communication Manual
- Process: PRC-RSA-001 Resilience Systems and Assurance
- Control: CTRL-REG-002 Ensure Regulatory Submissions Are Complete Accurate and Timely
History
- 2026-07-26: Created from sections 3 through 5 of the approved REG Manual.
- 2026-07-28: Enriched with Communication Framework requirements (tone and format standards) from PDF section 4.