The FCA are making Consumer Credit Returns more complicated with the introduction of Policy Statement PS25/3 and the new regulatory return (CCR009) for firms involved in:
- Credit broking
- Debt adjusting
- Debt counselling
- Providing credit information services
Why it matters:
This new return is designed to improve the quality and relevance of data collected, enabling the FCA to:
- Act faster where consumer harm is greatest
- Reduce ad hoc data requests
- Streamline supervision and reduce regulatory burden
Key changes:
- Tailored, proportionate data collection aligned with firm permissions
- Consolidated reporting for principal firms and their ARs
- Phased implementation to ease transition
Benefits:
- Better visibility into firm activities and consumer outcomes
- More efficient, data-led regulation
- Enhanced market integrity and consumer protection
Effective from: 7 May 2025
Firms must prepare now to align reporting with the new rules and timelines.
But here’s the good news:
Become an Appointed Representative (AR) and you don’t need to worry about it. We will handle the complexities for you.
Contact us on 01452 671570 or email tellmemore@automotive-compliance.co.uk to find out how we can help you.
