FCA extends regulatory reporting deadlines in light of COVID-19

Regulatory Updates | 22/04/20

The Financial Conduct Authority (FCA) has published a webpage setting out temporary changes to the deadlines for firms to submit regulatory returns due on dates up to and including 30 June 2020. A two month extension applies to the SUP 16 Fin-A (annual reports and accounts) return, and a one month extension applies to the following SUP 16 handbook returns:
• COR001A (Own funds)
• COR001B (COREP Leverage Ratio)
• COR005 (Asset Encumbrance)
• FSA004 (Breakdown of Credit Risk Data)
• FSA005 (Market Risk)
• FSA007 (Operational Risk)
• FSA008 (Large Exposures)
• FSA014 (Forecast Data from Firms)
• FSA017 (Interest rate gap report)
• FSA018 (UK integrated group – Large Exposures (UK integrated group))
• FSA019 (Pillar 2 Information)
• FSA055 (Systems and Controls Questionnaire)
• REP005 (High Earners Report)
• RMA-D2 (Financial Resources)

A two month extension applies for the following returns:
• Annual financial reports (as required under Disclosure Guidance and Transparency Rules)
• Credit union complaints return (CREDS 9 Annex 1R)
• Complaints return (DISP Annex 1R)
• Claims management companies complaints return (DISP 1 Annex 1AB)

Firms are not required to submit the Employer’s Liability Register compliance return for 2020. For small or medium-sized businesses paying less than £10,000 in fees and levies in 2020/21, the administrative fee for late returns has been waived until 30 June 2020. This waiver also applies to returns not listed above.