2017 Training: Supervision & Reporting

Events | 23/01/17

Wednesday 3 May – Manchester
Wednesday 12 July – London
Thursday 18 October – Birmingham


All firms the FCA regulates have to meet the standards set out in the relevant rules and provide information to the FCA to enable them to monitor their business.

FCA regulation will be proportionate, and they will concentrate their resources on the greatest potential risks to their statutory objectives. Firms with full permission can expect a more intensive supervisory approach than firms with limited permission. Consumer credit firms will go through the same supervisory process as other financial services firms.


The FCA aim to supervise the credit market in a proportionate way. They categorise firms based on certain criteria such as the size of the firm, the number of customers and the perceived risk to the consumers from the firm’s activities. For most consumer credit firms this will mean being designated a ‘Flexible Portfolio’ firm. The category they place a firm in determines the way the FCA will supervise it and the intensity of the supervision. Supervision is broken down into three areas:

  • assessments of firms – what is happening, where there could be a problem
  • event-driven work – quickly responding to an issue and fixing what has gone wrong to remedy the issue in the firm
  • issues and product supervision – work to stop a problem emerging in a firm or a sector.

The FCA teams will have more contact with higher risk firms that have a significant impact on the market.

Lower risk firms that have less of an impact will be supervised in a way that is appropriate to the size of their business, for example they may not need to send as much information.

Once a firm becomes fully authorised the FCA will require it to begin reporting information to them online on a regular basis, either six monthly or annually depending on the nature and size of the business. This includes basic details of the consumer credit business:

  • for limited permission firms
  • some additional key information for full permission firms.

The FCA will use the information that is provided to support their supervisory work. They will also use the information on consumer credit turnover to calculate annual fees. The reporting regime took effect from 1 October 2014 and applied to all consumer credit firms from this date or the date of authorisation, if later.


To provide delegates with:

  • an understanding of the FCA’s Supervision Regime
  • an understanding of the FCA’s reporting requirements including the scope of reporting for different sectors of the consumer credit industry.


  • a review of the FCA’s Supervision Regime
  • a review of the reporting requirements
  • an explanation of data items applicable to the activities firms undertake as set out in the supervision manual of the FCA under SUP 16.12.29CR.