The UK’s Financial Conduct Authority (FCA) is planning to
simplify complaints reporting for around 10,000 regulated entities. While the
FCA does not directly mention CFDs and retail trading firms, the proposed
changes are likely to impact these providers, offering them a potentially predictable
reporting process.
Under the FCA’s rules, firms authorized to carry out
regulated activities, including those offering CFDs and retail trading
services, are required to report complaints data if they meet certain
thresholds—specifically, if they receive 500 or more complaints in a six-month
period or 1,000 or more annually.
Given that CFD and retail trading firms often have large
client bases, they are likely to meet these reporting thresholds and thus be
subject to the FCA’s complaints reporting requirements.
FCA Consolidates Complaints Reporting Requirements
By consolidating five separate returns into a single data
submission, the FCA aims to reduce administrative pressure while improving the
quality of the data collected. The new approach is designed to help the
regulator identify emerging risks to consumers more quickly.
For these firms, the changes may ease compliance workloads
and support more efficient resource planning, particularly as the FCA moves to
standardise the timing of data requests across firms.
Sarah Pritchard, the FCA’s Executive Director for
Supervision, Policy, Competition and International, said: “Streamlining the
complaints data reporting process will ease unnecessary burdens on firms and
strengthen our commitment to smarter, more effective regulation.”
You may find it interesting at FinanceMagnates.com: FCA
Allows 16,000 Firms to Skip Three Data Collections; Do CFD Providers Benefit?
FCA Receives 281 Whistleblowing Reports
Meanwhile, in whistleblowing, the
FCA received 281 reports between January and March 2025, containing 752
allegations—mostly related to compliance. Of these reports, 181 whistleblowers
provided contact details, while 100 remained anonymous.
During the same period, the FCA closed 468 reports, taking
significant harm management actions in 12 cases and other mitigating steps in
192. The regulator stressed the importance of protecting whistleblower
identities while using the information to enhance enforcement and oversight.
The UK’s Financial Conduct Authority (FCA) is planning to
simplify complaints reporting for around 10,000 regulated entities. While the
FCA does not directly mention CFDs and retail trading firms, the proposed
changes are likely to impact these providers, offering them a potentially predictable
reporting process.
Under the FCA’s rules, firms authorized to carry out
regulated activities, including those offering CFDs and retail trading
services, are required to report complaints data if they meet certain
thresholds—specifically, if they receive 500 or more complaints in a six-month
period or 1,000 or more annually.
Given that CFD and retail trading firms often have large
client bases, they are likely to meet these reporting thresholds and thus be
subject to the FCA’s complaints reporting requirements.
FCA Consolidates Complaints Reporting Requirements
By consolidating five separate returns into a single data
submission, the FCA aims to reduce administrative pressure while improving the
quality of the data collected. The new approach is designed to help the
regulator identify emerging risks to consumers more quickly.
For these firms, the changes may ease compliance workloads
and support more efficient resource planning, particularly as the FCA moves to
standardise the timing of data requests across firms.
Sarah Pritchard, the FCA’s Executive Director for
Supervision, Policy, Competition and International, said: “Streamlining the
complaints data reporting process will ease unnecessary burdens on firms and
strengthen our commitment to smarter, more effective regulation.”
You may find it interesting at FinanceMagnates.com: FCA
Allows 16,000 Firms to Skip Three Data Collections; Do CFD Providers Benefit?
FCA Receives 281 Whistleblowing Reports
Meanwhile, in whistleblowing, the
FCA received 281 reports between January and March 2025, containing 752
allegations—mostly related to compliance. Of these reports, 181 whistleblowers
provided contact details, while 100 remained anonymous.
During the same period, the FCA closed 468 reports, taking
significant harm management actions in 12 cases and other mitigating steps in
192. The regulator stressed the importance of protecting whistleblower
identities while using the information to enhance enforcement and oversight.
This post is originally published on FINANCEMAGNATES.
