FCA announce credit broking survey

Jun 28, 2021 12:00:00 AM

What has happened?

The FCA announced in June 2021 that its pilot survey sent to 300 credit broking firms had finished in that month. As planned, the survey will now be sent to all remaining firms that hold the credit broking permission.

What do you need to do?

A few minor changes have been made from the pilot survey but the FCA has kept the fundamental design so that it is quick and simple to complete – it is understood that 95% of firms in the pilot completed the survey within 30 minutes.

Further information is available on the FCA webpage. The survey will be sent in batches over two weeks from 5 July 2021 and firms will then have 15 working days to submit their responses.

The FCA will send a warm-up/introduction email to firms in the week before they receive the survey. Firms will then be emailed a link to complete the survey online. The link sent to firms will be unique to each firm. If firms need a different individual within their organisation (or a consultant) to answer and submit the survey, the link can be forwarded to the required person.

If firms have any questions when completing the survey, they will be able to refer to the FAQs on the webpage or alternatively can contact the Supervision Hub or email firm.queries@fca.org.uk.

How can we help you?

If you’d like to know more about how we can help you with your credit broking or FCA reporting arrangements, or any other regulatory compliance issues, our expert team is here to help.

Blog