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ARTICLE · 16 MAY 2025

FCA Consumer Credit Reporting Changes For Some Regulated Activities

Devonshires Solicitors LLP
Devonshires Solicitors LLP
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Devonshires Solicitors LLP

Devonshires Solicitors LLP

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Last week the FCA confirmed its plans to introduce a new regulatory return for consumer credit firms who engage in certain regulated activities.

United KingdomConsumer Protection
Alice Overton
Alice Overton
Amirah Adekunle-Fowora
Amirah Adekunle-Fowora
Rachel Dros
Rachel Dros

Last week the FCA confirmed its plans to introduce a new regulatory return for consumer credit firms who engage in certain regulated activities. In September 2024 we reported (Consumer credit: the FCA is changing its data requirements) on the FCA's proposals (set out in consultation paper CP24/19), which will significantly change the way consumer credit firms report on the applicable regulated activities of Credit Broking, Debt Adjusting, Debt Counselling and Providing Credit Information Services.

The FCA is introducing these changes in order to both enhance the quality of the data it collects and to improve regulatory oversight and efficiency. It has reported that consultation feedback was largely positive, welcoming the structure and format of the new return. In response to consultation feedback, the FCA has adjusted the original return by reducing the number of questions, improving data elements of the return and providing clearer guidance on how to respond to

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