Published by: Financial Conduct Authority (FCA)
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Key Take Aways
The FCA has introduced a new regulatory reporting return aimed at consumer credit firms engaged in credit broking, debt adjusting, debt counselling, and credit information services, designed to improve data quality and supervision efficiency.
The revised return will feature tailored questions across five core sections—permissions, business model, marketing, revenue, staff—plus specific permissions-based questions, aiming to clarify firms’ operational practices.
Feedback from industry respondents led to a 27% reduction in questions—removing approximately 57 questions initially proposed—enhancing proportionality and easing firms’ compliance burden.
The new data collection framework will replace existing CCR002 and CCR007 returns, with a phased approach to minimise industry disruption, and includes regulatory forbearance during the transition.
The reporting frequency remains aligned wit...
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