2017年-FCA英国金融行为监管局_handbook_notice_28_sup_manual_conc_rma_mortgage_scl_recovery_and_res_3页_125kb

Regulator Assessment Summary: Qualifying Regulatory Provisions

Overview

This document outlines the FCA's assessment of the regulatory provisions included in Handbook Notice 28 - Supervision Manual (Amendment No 21), which was consulted on in Consultation Paper 15/28. The amendments are part of the Instrument 2015 and relate to changes in Consumer Credit Reporting (CCR), Product Sales Data (PSD), Mortgage Second Charge Lending, and Recovery and Resolution Reporting. The assessment was conducted on 14 October 2016, with the commencement date set for 31 December 2016. These changes apply to the whole of the UK and are of a domestic origin. Importantly, this does not include the implementation of a Cutting Red Tape review.

Core Content

The FCA made minor amendments to the Supervision Manual (SUP), specifically to Chapter 16, with the following key areas of focus:

• Consumer Credit Reporting (CCR) guidance notes
• Product Sales Data (PSD) items (PSD001 & PSD007)
• Mortgage Second Charge Lending reporting forms
• Recovery and Resolution plans submission method
• Standing data items for the GABRIEL system

These amendments aim to improve clarity, streamline processes, and ensure consistency in data reporting across regulated firms.

Main Points and Key Information

1. Consumer Credit Reporting (CCR) Guidance Notes

• CCR007: The amendment to question 5 is expected to result in no increase or minimal increase in costs. The new information requested is readily available to firms and does not add a reporting burden.

2. Mortgage Second Charge Lending Reporting Forms

• Formatting changes: These are minor and do not alter the content of the reports. As a result, no significant costs are expected for firms. The implementation costs are anticipated to be minimal.

3. Product Sales Data (PSD) Items (PSD001 & PSD007)

• Guidance notes: Amendments to these items are expected to result in no increase or minimal increase in costs. The reporting requirements remain unchanged, and the formatting change in PSD007 is already implemented in the system.

4. Mortgage Lending Activity (MLA-L and MLA-M) Notes

• SUP 16.12.18B: The amendment to note 3 is intended to clarify the scope of firms required to complete MLA-L and MLA-M returns. It does not introduce new reporting requirements but ensures that firms not in scope are clearly identified.

5. Recovery and Resolution Plans Submission Method

• GABRIEL system: The new submission method requires firms to use the GABRIEL system, which they are already familiar with. This change is expected to make the collection of data more efficient for both firms and the FCA, with no additional costs.

6. Standing Data Items

• Principal user check: The addition of checking a firm’s principal user on the GABRIEL system is expected to result in minimal incremental costs. Firms are already required to check standing data annually, so this change is not burdensome.

Affected Businesses

The following types of businesses are affected by the proposed changes:

• Consumer credit reporting data items: 30,000 firms
• Mortgage second charge lending data: 150 firms
• Recovery and resolution plan data: 40 firms
• Product Sales Data (PSD001 & PSD007): 280 firms
• GABRIEL system registration: 46,000 firms
• Mortgage Lending Activity (MLA-L and MLA-M): 140 firms

Cost-Benefit Analysis

• The cost-benefit analysis was conducted in the Consultation Paper 15/28.
• The aggregate cost to businesses is expected to be minimal, with no significant increase in costs.
• All changes are designed to improve clarity and reduce confusion without imposing new reporting obligations.
• The BIT score is 0, indicating that the changes are not expected to impose a significant burden on businesses.

Additional Information

• No additional information was provided to assist the RPC in validating the BIT score.

Conclusion

The proposed amendments to the Supervision Manual are minor and non-disruptive, primarily aimed at clarifying requirements and improving data collection efficiency. The FCA expects that these changes will not lead to significant costs for firms and will have minimal impact on business operations.