The Financial Conduct Authority has “immediately” scrapped collecting three data sets, which affect mortgage brokers and other intermediaries.
The watchdog says the move is part of its wider transforming data collection programme, which aims to make it “a smarter, more data-driven, and proportionate regulator – reducing unnecessary burdens and simplifying our rules”.
The three reporting data sets that will no longer be collected are:
The regulator says some of the firms this change affects include mortgage, insurance and retail investment brokers, securities and futures firms, collective portfolio management firms and peer-to-peer lenders.
It confirms this move comes into force on 27 June.
The watchdog adds: “If your firm is affected by these changes, you will not need to take any action.
“FSA039 and RMA-F will be removed from your reporting schedule immediately. They will be switched off in RegData, effective 11 July 2025.”
The watchdog has cut back its data reporting and launched a series of consultations since, Prime Minister Keir Starmer and Chancellor Rachel Reeves wrote to a range of regulators last November, asking them to loosen rules that will allow economic growth, particularly within the UK’s financial sector.
