Prepare REP027 from your controlled safeguarding data
Guardexia connects the monthly FCA safeguarding return to the reconciliations, discrepancies, review and evidence behind it—reducing re-keying and helping your firm reconstruct every reported figure.
What REP027 is
REP027 is the monthly safeguarding return set out in SUP 16.14A and SUP 16 Annex 29BR. Its purpose is to give the FCA regular and comprehensive information about a safeguarding institution's treatment of relevant funds. The return is due within 15 business days after each calendar month-end, subject to the detailed exception for the month in which a firm becomes a safeguarding institution.
Primary sources: FCA Handbook SUP 16.14A, FCA Handbook CASS 15 and the firm's live RegData schedule.
The control is the data lineage—not the form
Completing the return is the final step. The harder question is whether each reported value can be traced back through the approved safeguarding position, the underlying source records and any discrepancy or adjustment that affected it.
Guardexia keeps those stages connected. That reduces the risk of a monthly return being assembled in a separate spreadsheet using values that no longer agree with the firm's approved reconciliation record.
How Guardexia supports REP027 preparation
REP027 preparation checklist
| Control stage | Question to answer | Evidence to retain |
|---|---|---|
| Scope and period | Does the return cover the correct legal entity, calendar month and applicable asset pool? | Reporting period, entity record, permissions and pool mapping. |
| Source completeness | Are all relevant ledgers, accounts, currencies and safeguarding arrangements represented? | Input inventory, ingestion status and account mapping. |
| Reconciliation status | Are the relevant internal and external reconciliations complete and approved? | Calculation results, timestamps, reviewer and approval record. |
| Discrepancies | Do shortfalls, excesses and other differences agree with the investigation record? | Exception register, cause, owner, actions, dates and resolution evidence. |
| Accounts and arrangements | Do account, third-party and safeguarding-method details reflect the live operating position? | Account register, acknowledgement records and due-diligence material. |
| Audit information | Does the return agree with the firm's current safeguarding audit position? | Audit-period details, report status and relevant explanations. |
| Final review | Can the responsible reviewer explain the origin and treatment of each material figure? | Review comments, approval event and final export checksum or version. |
| Submission | Was the approved return submitted by the applicable deadline? | RegData submission confirmation and any subsequent correction record. |
Illustrative month-end example
An EMI's month-end reconciliation identifies a £2,340 timing difference between an internal ledger movement and the bank record. The item is assigned to finance operations, matched to a pending settlement and independently reviewed. The final approved safeguarding position and the unresolved-at-cut-off explanation are then used in the monthly return preparation. Guardexia retains the source files, matching activity, reviewer comments, timestamps and exported return version together.
Illustrative figures only. The appropriate reporting treatment depends on the facts, the FCA instructions and the firm's approved methodology.
What Guardexia removes
- Repeated copying between reconciliation and reporting spreadsheets
- Uncontrolled versions of month-end figures
- Evidence scattered across email and shared drives
- Unclear ownership of unresolved differences
What remains your responsibility
- Regulatory interpretation and scope
- The firm's reconciliation methodology
- Classification and reporting judgements
- Final review, submission and correction of REP027
See your own reporting chain in Guardexia
In a 30-minute workflow session, we will map your data inputs, reconciliation, discrepancies, review and REP027 preparation. You will see where Guardexia fits and which decisions remain with your firm.
REP027 software questions
What is REP027?
REP027 is the monthly FCA safeguarding return required from safeguarding institutions under SUP 16.14A and SUP 16 Annex 29BR.
When is REP027 due?
The return is due within 15 business days after each calendar month-end, subject to the rule for a month in which the firm becomes a safeguarding institution. Confirm the applicable date in RegData.
Who must submit REP027?
The requirement applies to safeguarding institutions, including authorised payment institutions, authorised and small electronic money institutions, small payment institutions that opt into safeguarding, and credit unions that issue e-money, subject to the detailed scope rules.
Does Guardexia submit REP027 directly to the FCA?
Guardexia prepares and exports reviewable REP027 data. The firm remains responsible for final review and submission through the electronic means made available by the FCA.
How does Guardexia reduce REP027 reporting risk?
It connects return preparation to the controlled records used for daily reconciliation, discrepancy management and approval, reducing manual re-keying and preserving data lineage.
This page provides general product information, not legal, regulatory, accounting or audit advice. Confirm current requirements against the FCA Handbook, REP027 instructions, RegData and the firm's individual permissions.