On 12 May 2021, the FCA announced that it was asking regulated firms that hold the credit broking permission to complete a short survey to update the information the regulator holds on how they are using this permission.
The FCA believes that it should be possible for firms to complete the survey within 30 minutes. Firms will have 15 working days to submit their responses. The FCA states that whilst it is not seeking this information under its formal information gathering powers, it expects firms to complete the survey. Firms are required under Principle 11 to deal with their regulators in an open and cooperative way. Where firms do not complete the survey, the FCA may contact them to understand the reasons for this. To help firms the FCA has also published FAQs.