On 28 July 2021, the FCA published a Dear CEO letter setting out its expectation that lenders report to it instances where an FCA firm, as a borrower under the Government’s Bounce Back Loan Scheme (BBLS), has committed or otherwise been involved in fraudulent activity. The FCA also uses the opportunity to remind firms of their wider obligations for reporting fraud and restates messages from its webinar ‘Collecting and recovering small business lending’. These messages include that the FCA has rules to support the fair treatment of customers through the regulated collections and recoveries process. In particular, the FCA’s Consumer Credit Sourcebook Chapter 7 (CONC 7) sets out rules for the treatment of customers who are in default or arrears difficulties. The FCA also mentions that the Senior Managers and Certification Regime is also important when considering collections and recoveries from small and medium-sized enterprises. A senior manager’s accountability stretches across both regulated and unregulated lending. It is important that senior managers are taking reasonable steps to ensure that the business of the firm for which they are responsible is controlled effectively.