On 12 September 2024, the Financial Conduct Authority (FCA) published Consultation Paper CP24/19 on Consumer Credit Regulatory Returns: Credit Broking, Debt Adjusting, Debt Counselling and Providing Credit Information Services (CP24/19). CP24/19 sets out the FCA’s proposal to issue a new regulatory reporting return for consumer credit firms who engage in one or more of the regulated activities of credit broking, debt adjusting, debt counselling, and providing credit information services.
The aim of the FCA’s proposals is to improve the information it collects from firms so that it can better understand their consumer credit activities and proactively supervise firms to identify and prevent risk of harm to consumers earlier on. The FCA notes that collecting better quality information will enhance its ability to identify risks of harm and to intervene quicker, in line with its overarching data-led strategy. The design of the new return aims to tailor the set of questions so they are
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