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July 16, 2025
The FCA has published a Consultation Paper seeking to ‘streamline’ the complaints reporting processes for firms. The FCA believes that some 10,000 firms will find it simpler to submit complaints data under the new proposals, even though some 14,000 firms will still have just one return to complete. The new return will require a good deal more detail than the current version.
The FCA is standardising the number of times it asks regulated firms to report, so that the timing of the requests is more predictable. The FCA plans to consolidate five current returns into one to “…improve the quality of the data we receive…”.
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