On 29 April 2024, the Financial Conduct Authority (FCA) published Policy Statement PS24/3 on Consumer Credit: Product Sales Data Reporting, in which it sets out its final rules and guidance for incorporating three new Product Sales Data (PSD) returns into Chapter 16 of its Supervision manual (SUP 16).
The FCA proposed, in Consultation Paper CP23/31, to introduce these three new PSD returns into SUP 16, to allow it to collect more detailed data about the consumer credit market from providers of consumer credit products, including information on the initial sale and ongoing performance of individual agreements. The FCA states that with this additional data, it will be able to supervise firms and monitor markets more effectively, enabling it to identify and prevent significant harm in the consumer credit market.
PS24/3 summarises the feedback the FCA received on its proposals and its response, as well as setting out the final rules and guidance for incorporating the three new PSD returns
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