We are proposing to remove unnecessary data reporting for firms, helping to reduce burden and unlock economic growth.
The 3 collections identified will also be removed from the firm handbook, helping to further simplify our reporting requirements, and deliver on our commitment in our response to the PM’s growth letter[2].
Jessica Rusu, chief data, intelligence and information officer, FCA said:
'In our strategy, we committed to being a smarter regulator and supporting growth. So while we need data to do our job, we should challenge ourselves on whether what we’re asking for is needed. We’re getting rid of these data requests, saving time and money for thousands of firms, and we will review more in the future.'
To further support firms with more streamlined reporting, the FCA has recently launched My FCA[3], providing firms with a single sign-in and all regulatory tasks in one place.
We welcome feedback on our proposals in the consultation paper[4] by 14 May 2025. While this consultation is live, firms who are currently required to submit these data returns can choose not to do so and will not be pursued for late payment fees.