FCA consultation on Product Sales Data reporting

The FCA has launched a consultation to gain feedback on proposals to introduce 3 new Product Sales Data (PSD) returns into the Supervision manual.

The proposed PSD returns aim to help the FCA understand how firms operate, allowing the regulator to gain further insight into the market so that it can make quicker, bolder decisions. The FCA has said it will also help them to develop and deliver supervisory strategies across the consumer credit market.

This would apply to firms that engage in consumer credit lending and firms that advise, represent or provide software to support compliance with regulatory reporting for any of the above firms.

The consultation closes on the 15th November.

Source: FCA