The Financial Conduct Authority is looking to streamline the complaints notification process for regulated firms and reduce the number of reports they have to complete. It is seeking to roll five forms into one and has published a consultation paper (CP25/13) detailing its proposed changes. The deadline to respond to this consultation is 24th July 2025.

The FCA said: “We want to consolidate five existing returns into a single return. We know that many firms have to complete multiple (and sometimes overlapping) returns, which creates inefficiency and unnecessary burden. This increases the risk of misreporting and makes it difficult for us to meaningfully interpret trends through repeat or overlapping complaints data.”

It added: “Currently the firms we regulate must report numbers of customer complaints they receive to us. We have not reviewed this data collection since 2015. We want to simplify how firms report complaints to us, make the process more consistent and improve the quality of the data we collect.”