Find out the reporting requirements for firms authorised to carry out regulated consumer credit activities.
Once you become fully authorised we will require you to begin reporting information regularly to us online – either quarterly, 6-monthly or annually depending on the nature and size of your business.
We will use the information you provide to:
- support our supervisory work
- calculate the consumer credit-related portion of your annual fees (based on your consumer credit income)
The reporting regime came into effect on 1 October 2014 and applies to all authorised firms from the date they are authorised. It does not apply to firms whilst they have interim permission.
The data you provide must not give a misleading impression of the firm. This means a firm must not:
- omit a material item
- include an immaterial item
- present items in a misleading way
Scope of reporting
All data references can be found in the Handbook.
Limited permission reporting
- Most firms with limited permission are only required to submit data item CCR007 (Key Data)
A not-for-profit body only has to meet the reporting requirements if it is a not-for-profit debt advice body that:
- has held £1m or more in client money in the last 12 months, or
- projects that it will hold £1m or more in client money in the following 12 months
A firm is not required to submit any data items if the only consumer credit-regulated activity it carries out is providing credit references
Authorised professional firms
An authorised professional firm is not required to submit the data items in SUP 16.12.29CR unless it is a client assets (CASS) debt management firm
High-cost short-term credit and home-collected credit
Firms undertaking high-cost short-term credit and home-collected credit are also required to report the product sales data set out in SUP16.11 Annex 20G and 20R.
Credit broking firms
Credit broking firms that charge fees must notify us every three months of their domain names in the form of data item CCR008. The report should be submitted on paper via post or by email to firstname.lastname@example.org
Complaints return form
Consumer credit firms are required to complete Part B 35-45 on DISP 1 Annex 1.