FCA has published a summary of why it collects data for the RMAR and how it uses it. Its key purpose is to help it supervise firms in a way to minimise poor consumer outcomes in the retail investment market. The data allows it to assess firms’ compliance with threshold conditions, prudential and conduct requirements, and to spot trends in individual firms and in the market as a whole. As a results, FCA can identify the firms to which it should allocate supervisory attention, and better understand the activities undertaken by firms, and whether such activities pose any risks to consumers. The guide also contains information on common reporting errors.
