Financial conduct authorities “immediately” canceled the collection of three data sets that affected mortgage brokers and other intermediaries.
Watchdogs said the move is part of its broader conversion data collection program, which aims to make it “smarter, more data-driven and proportionate regulators-relieve unnecessary burdens and simplify our rules.”
The three report datasets that are no longer collected are:
- Customer funds and customer assets-FSA039
- Retail Mediation Activity Return (RMAR) Part – RMA-F
- Event-driven consultant complaint notice – Form G
Some of the companies affected by the change include mortgage, insurance and retail investment brokers, securities and futures companies, collective portfolio management companies and peer-to-peer lenders, regulators say.
It confirmed that the move will take effect on June 27.
Watchdog added: “If your company 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 closed in Regdata from July 11, 2025.”
The watchdog cuts its data reports and began a series of consultations since November last year, Prime Minister Keir Starmer and President Rachel Reeves wrote to a series of regulators asking them to abandon rules that would allow economic growth, especially within the UK financial sector.
