The Financial Conduct Authority (FCA) said it is “continuing to make data reporting more proportionate” and has removed more data returns.
In an update shared today (28 August), the regulator set out that 36,000 firms will now no longer need to submit a nil return when completing certain tasks relating to disciplinary action, "saving them time and reducing burden". "If there's nothing to submit, firms won't need to take action," the FCA stated. As part of its ‘Transforming Data Collection' external programme, the watchdog consulted in June 2024 to: Decommission REP022 (General Insurance Pricing Attestation) and retail investment advisers (RIA) complaints, reduce the frequency of reporting for REP009 (Consumer Buy-To-Let...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
