‘My FCA’ is a new portal for registered and authorised firms which is launching in spring 2025.
- You'll be able to sign in once to see your RegData and Connect scheduled tasks in one place.
- FCA recommends adding https://myfca.fca.org.uk to your allowed list of trusted website addresses.
- Connect, RegData and Online Invoicing System users who have registered for multi-factor authentication will be able to sign in to My FCA using their existing details.
- You'll still be able to access RegData, Connect and Online Invoicing System via your bookmarks or the website links. It won’t be mandatory to sign in via My FCA at the time of launch.
- FCA will let firms know via Regulation Round-up and on the FCA website when My FCA is available to use. After launch, we encourage you to start using My FCA to complete your scheduled tasks.
Product Sales Data PS24/3
The FCA have been contacting members during the past month, advising them that they are required to complete the new Product Sales Data Report when issued. As a reminder, any firm which has £2m of outstanding balances and/or £2m in new advances will be required to complete the report. The FCA are requesting members to check their most recent CCR003 report for accuracy, which is the RegData report used to review a firms results.
Using RegData the FCA will be providing access for members to review the new report in an “off-line” capacity prior to the report going live. In scope firms will be required to submit results in Q1 2026.
Buy Now Pay Later (BNPL)
HM Treasury has sent the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2025 to Parliament in January 2025 and regulation of BNPL by the FCA will begin 12 months following its approval. Expected Q1 2026.
Following a meeting between the NPA and the FCA, the regulator is considering how this will affect pawnbrokers and review potential changes. These may include pawnbrokers been considered for Merchant Status, a Credit Broker with limited permission or pawnbrokers requiring full permission. Once the FCA have completed their review we will be able to provide further guidance on this subject.
Consumer Duty Board Report: good practice and areas for improvement
Consumer Duty Board Reports: good practice and areas for improvement | FCA
The FCA have issued good and poor practice findings to support firms. We would recommend that the “Smaller firms”, section is considered to support your business as it covers monitoring and outcomes, actions taken to comply with the Duty and future business strategy..
FCA and Practitoner Panel joint survey for 2025 launches (30 January 2025)
The FCA and Practitioner Panel joint survey for 2025 launches | FCA
For the first time, the survey will be sent out to all regulated firms allowing the FCA to capture an even wider range of feedback. The survey will be used to better understand issues effecting firms and to assess any changes the FCA should consider making, so they can operate more efficiently and effectively. The NPA have asked the FCA if it is compulsory to complete, once we have a response we will update our members.
FCA General Surveys
Members have asked if they could have more time to complete FCA surveys. On behalf of members the NPA raised this query in a recent meeting with the FCA. The feedback is positive and we have been advised that members should contact the FCA directly to, discuss any timing concerns and they will work with businesses, and where they are can, extend reporting timeframes to support members.
FCA Consumer Duty focus areas (9th December 2024)
Our Consumer Duty focus areas | FCA
The FCA have shared their priorities under the Consumer Duty for the remainder of 2025, which include:
- Embedding the Consumer Duty and raising standards
- Enhancing understanding of the price and value outcome
- Sector-specific priorities
- Realising the benefits of the Consumer Duty
We recommend that you read the document to support your business.