On 28 August 2025, the FCA published a press release and updated its reporting rules webpage to confirm that firms with a reporting period ending after 31 August 2025 will no longer need to submit certain nil returns if there are no breaches of the conduct rules to report under the Senior Managers and Certification regime (SMCR) during the relevant reporting period.
The FCA explained that this change has been made as part of its transforming data collection programme, which aims to make regulatory reporting more proportionate.