We are proposing to remove unnecessary data reporting, that will benefit nearly all firms, helping to reduce burden and unlock economic growth.
Following the launch of our consultation to remove 3 regulatory returns[1], we have now identified further returns that are no longer needed.
We are proposing 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 SMF managers).
We'll also remove these collections from our Handbook, helping to further simplify our reporting requirements and to deliver on our commitment in our 5-year strategy[2] to be a smarter regulator, making data collection more proportionate.
To further support firms with more streamlined reporting, we have recently launched My FCA[3], providing firms with a single sign-in and all regulatory tasks in one place.
More information
REP022
We’re proposing to decommission REP022 (General Insurance Pricing Attestation) as it’s no longer an essential way to monitor firms' compliance. We’re making this change as we consider there to be more proportionate ways of ensuring senior managers remain accountable for compliance with our pricing rules.
RIA Complaints
We’re planning to decommission RIA Complaints to avoid duplication of returns for complaints reporting data.
REP009 (Consumer Buy-To-Let Mortgage Aggregated Data)
We’re reducing the frequency of reporting for REP009 (Consumer Buy-To-Let Mortgage Aggregated Data) to move to an annual reporting cycle.
Nil returns for REP008
We’re removing the requirement to submit nil returns for REP008 (Notification of Disciplinary Action relating to conduct rules staff other than SMF managers), as we’ve determined that nil return submissions do not provide additional regulatory value to our supervision.