See if your firm needs to submit a return, what to submit and how to do it.
What we collect
We collect the following regulatory data, once a year, from claims management companies (CMCs):
- Annual Claims Management Report CMC001: Key data from claims management companies. See our Handbook at SUP 16.25[1] and SUP 16 Annex 45A[2] with guidance notes at SUP 16 Annex 45B[3].
- CMC Complaints: See our Handbook at DISP 1.10[4], including complaints reporting rules 1.10.1R(3)(b) and DISP 1 Annex 1AB claims management complaints and redress return form[5].
- Relevant connections notification: the requirements around relevant connections can be found in CMCOB 2.1.15R[6] onwards, with reporting requirements specified within CMCOB 2.1.21R[6]. In the initial attestation, CMCs are required to cover a period of 6 years up to the date of the notification request. The questions can be found at SUP 16 Annex 45AR[2] Qs 52 – 54.
When to submit
Annual reporting requirements must be submitted to us electronically within 30 business days of the end of the relevant reporting periods.
The Relevant Connections notification must be submitted to us electronically within 60 business days of authorisation.
Who needs to submit
The annual reporting requirements apply to all firms with permissions to carry on regulated claims management activities[7], including firms with temporary permissions[8].
The Relevant Connections notification requirement applies to all firms with permission to carry on:
- Seeking out, referrals and identification of claims or potential claims; and/or
- Providing advice, investigation or representation in relation to financial services or financial product claims.
How to submit
All returns which cover an account reference date (ARD) ending on or after 1 April 2023 must be submitted through RegData. This will replace Qualtrics, which has previously been the reporting platform used by CMCs.
It’s your responsibility to make sure your details are up to date to receive notifications from us. We will contact the principal user’s email address.
See our RegData page for further information or to register[9]. If you have any further questions, call us on 0300 500 0597.
If your ARD falls before 1 April 2023 you should continue to submit through Qualtrics, including any returns which became overdue before 1 April 2023.
Submitting in Qualtrics
If you need to submit your return in Qualtrics:
- Prepare, validate and submit CMC001[10] and CMC Complaints (DISP)[11] using the links provided.
- Prepare, validate and submit the Relevant Connections notification using this link[12].
How to find your ARD
See Companies House's useful guide to Accounting Reference Dates[13] (ARD) online. If you’re not sure when your ARD is, you can check your accounting reference period and filing date by using the Companies House service[14].
The glossary in our Handbook provides a definition[15] and information on the ARD for regulation.
Late returns
The reporting requirements have strict time limits under our rules. If your firm does not meet these requirements, you may be charged a £100 administrative fee – see SUP 16.3.14 failure to submit reports[16].
If your firm does not submit the information required, we may take enforcement action. In some circumstances this might result in you losing your permission to carry out regulated activities.
