Financial Conduct Authority confirms removal of two RegData returns and Form G individual adviser complaints notification cutting annual industry costs by £1.3m

The Financial Conduct Authority published Policy Statement PS25/7 confirming it will decommission two regular data returns and remove an event-driven notification requirement, alongside deleting outdated Handbook material, as part of its data decommissioning work under the Transforming Data Collection programme. The final rules remove FSA039 (Client money and client assets), Section F of the Retail Mediation Activities Return (RMA-F) covering threshold conditions, and Form G (individual adviser complaints notification), and delete references to European Economic Area firms in RMAR completion guidance. Form G previously required notification where two complaints were upheld in a 12-month period for a single adviser, or where one complaint was upheld with compensation above GBP 50,000. The package also streamlines the Handbook by removing around 70 pages of guidance on data collections already decommissioned, and by removing return form layouts and instructions where relevant; the FCA estimates annual cost savings of around GBP 1.3m for industry, benefiting roughly 16,000 firms, and notes that 95% of 31 respondents supported the changes. The decommissioning takes effect on 27 June 2025, with FSA039 and RMA-F switched off in RegData from 11 July 2025, and affected firms do not need to take action. The FCA also pointed to further proposals in its June Quarterly Consultation Paper CP25/16 (responses due by 30 June 2025) and related work on complaints reporting in CP25/13 (closing 24 July 2025), while indicating it will consider options to remind firms of their ongoing close links and controllers notification obligations.