We’re continuing to make data reporting more proportionate by reducing and removing regulatory returns for 95% of all authorised firms.
36,000 firms will now no longer need to submit a nil return when completing certain tasks relating to disciplinary action (REP008[2]), saving them time and reducing burden.
If there’s nothing to submit, firms won’t need to take action.
Jessica Rusu, chief data, innovation and intelligence officer at the FCA, said:
‘We only ask for the data we need, making sure it's proportionate, to reduce unnecessary burdens. Our focus is on collecting information that adds real value, while making it easier for firms to meet their regulatory obligations.’
As part of our Transforming Data Collection[3] programme, we consulted in June 2025 to:
- Decommission REP022 (General Insurance Pricing Attestation) and retail investment advisers (RIA) complaints.
- Reduce the frequency of reporting for REP009 (Consumer Buy-To-Let Mortgage Aggregated Data).
- Remove the requirement to submit nil returns for REP008 (Notification of Disciplinary Action relating to conduct rules staff – other than senior manager functions).
This is in addition to 3 returns removed[4] earlier in 2025, reducing burden for 16,000 firms. These changes reinforce our commitment to cutting low-value reporting, improving data use and becoming a smarter regulator.