The Financial Conduct Authority’s (FCA) proposal to remove “unnecessary” data reporting for firms has been welcomed but it is impossible to determine the impact until the proposals are published, commentators have told Professional Adviser.
On 16 April, the regulator revealed that it would be opening a consultation to remove three data collections in a bid to "reduce burden and unlock economic growth". The FCA said it has identified three regular returns as viable for decommissioning: Form G: The Retail Investment Adviser Complaints Notifications Form; FSA039: Client Money and Assets; and Section F RMAR. This comes after the FCA shared its five-year strategy, in which it set out that it will "retire" over 100 pages of rules underpinning the consumer finance, investments and mortgage sectors following "clear feedback from...
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