PS25/7: Data Decommissioning: Removing reporting and notification requirements

Read PS25/7 (PDF)[1]

What we are changing

As proposed in Consultation Paper CP25/8[2], we are immediately removing the following data collections:

• FSA039 – Client money and client assets
• RMA-F – Section of the Retail Mediation Activities Return (RMAR)
• Form G – an event driven adviser complaints notification

These changes are part of the wider Transforming Data Collection (TDC) programme, which reinforces our commitment to cutting low-value reporting and improving data use.

These changes support our Strategy 2025[3] goal to be a smarter, more data-driven, and proportionate regulator – reducing unnecessary burdens and simplifying our rules.  

Who will this affect

Our final rules affect a wide range of firms that we authorise and regulate. Some firms are also authorised and regulated by the PRA: 

• Insurance intermediaries, mortgage intermediaries and retail investment intermediaries
• MIFIDPRU investment firms, securities and futures firms, investment management firms, collective portfolio management firms and peer-to-peer lenders
• Firms with retail investment advisers, as defined in the Handbook glossary

Who else will be interested: 

• All other firms with an interest in SUP 16 of Next steps

Next steps  

The removal of the data collections outlined in this PS will come info force on 27 June 2025. 

If your firm is affected by these changes, you will not need to take any action. FSA039 and RMA-F will be removed from your reporting schedule immediately. They will be switched off in RegData, effective 11 July 2025.

What we will do next

We continue to work on the data decommissioning workstream and we have consulted on this aspect further in the June Quarterly Consultation Paper[4].