Information gathering by the FCA or PRA on its own initiative

Reporting is usually linked to the firm’s annual reporting period. For insurance intermediaries, the following reporting needs to be undertaken: –

Firms Data –information that the FCA holds on all firms that are
regulated by them, not just general insurance firms and some of this
information appears in the Financial Services Register. Firms need to
update or attest that the information is correct on an annual basis. This
form is completed through Connect. Failure to complete the attestation
will result in a £250 fine.
 Directory Persons Notification – Firms need to complete a notification
through Connect to add directory staff (who are not approved senior
managers) to the FS register. This includes non-executive directors who
do not hold a senior manager function and certification staff.
 Retail Mediation Activities Return (RMAR) – information which relates
to general insurance firms only and includes financial data, compliance
with threshold conditions, information on insurance conduct of business
rules (ICOBS), training and competence, supplementary product sales
data and information required to calculate fees for FOS and FSCS. This
is completed through RegData
 Consumer Credit Return (CCR002) – information which relates to
consumer credit activities including volumes and income. This
information is used to calculate your fee in respect of credit broking. If
you undertake lending or debt management activities there will be other
returns to complete which are not included in this manual. For most firms
this return will need to be completed annually at the same time as you
complete section J on the RMAR. This is completed through RegData
Complaints information – standard information that the FCA collects for
all firms regulated by them. This is completed at the same time as the
RMAR via RegData
 Senior Managers & Certification Regime (SMCR) reports – a set of
reporting requirements introduced from 9th December 2019 as part of
SMCR. They include:
o REP008 – staff conduct rule breaches which is completed on an
annual basis. All firms will have the same reporting date of 31st
August and 2 months to submit any data or a nil return via
RegData
o Senior Manager Breaches of Conduct Rules – which is completed
using Senior Manager Form D on Connect and needs to be
completed within 7 days of the breach being identified.
o Significant Changes in a Senior Manager’s Responsibilities –
Form J on Connect.