SUP 16.11 1Product Sales, Performance and Back-book Data Reporting

15Where a regulated mortgage contract has been sold or securitised, the firm responsible for the performance data report should be the ‘principal administrator’ submitting the MLAR (see section G of SUP 16 Annex 19AR and the guidance notes on section G in SUP 16 Annex 19BG ).

SUP 16.11.1B G 01/05/2024

16This section will continue to apply to a threshold 1 category A firm, a threshold 1 category B firm, a threshold 2 category A firm or a threshold 2 category B firm regardless of the annual total value reported for relevant regulated credit agreements in subsequent reporting periods.

Purpose

SUP 16.11.2 G 01/05/2024 RP
  1. (1) The purpose of this section2 is to set out the requirements for firms in the retail mortgage, investment, consumer credit lending8 and pure protection contract markets specified in SUP 16.11.1 R to report individual product sales data, to report individual performance data on regulated mortgage contracts and relevant regulated credit agreements, and to report historic back-book data16 to the FCA17. In the case of firms in the sale and rent back market, there is a requirement to record, but not to submit, sales data13. These requirements apply6 whether the regulated activity has been carried out by the firm, or through an intermediary which has dealt directly with the firm. 27177766
  2. (2) The purpose of collecting this data is to assist the FCA17 in the ongoing supervision of firms engaged in retail activities and to enable the FCA17 to gain a wider understanding of market trends in the interests of protecting consumers. 1717
  3. (3) Certain of the information is required under PRA rules: see SUP 16.11.7R(2) to (5) . This information is collected by the FCA for the PRA, but the PRA allows the FCA to retain the information for the FCA’s purposes.15

Reporting requirement

SUP 16.11.3 R 01/05/2024 RP
  1. (1) A firm must submit a report (a 'data report') containing the information required by:77
    1. (a) SUP 16.11.5 R (a 'sales data report') within 20 business days of the end of the reporting period; 167
    2. (b) for regulated mortgage contracts and relevant regulated credit agreements16, SUP 16.11.5A R (a 'performance data report'), within 30 business days of the end of the reporting period; and167
    3. (c) SUP 16.11.5BR (a ‘back-book data report’), within 30 business days of the end of the firm’s first reporting period,16

    unless 11(3A) or (4) applies.7

    1. (a) 7for sales data reports, the four calendar quarters of each year beginning on 1 January; 16
    2. (b) 7for performance data reports for regulated mortgage contracts,16 the six month periods beginning on 1 January and 1 July in each calendar year; and16
    3. (c) for performance data reports for relevant regulated credit agreements, the four calendar quarters of each year beginning on 1 January.16
    1. (a) in relation to a threshold 1 category A firm, the first reporting period to which the requirement applies is the calendar quarter beginning on 1 January 2026;16
    2. (b) in relation to a threshold 1 category B firm:16
      1. (i) the first reporting period to which the requirement applies is calculated by reference to the quarter in which the relevant annual period ended;16
      2. (ii) the relevant annual period is the annual period in respect of which the firm first reported in accordance with SUP 16.12.29CR ;16
        1. (A) an annual total value of £2,000,000 or more, but less than £20,000,000, outstanding for relevant regulated credit agreements; or16
        2. (B) an annual total value of £2,000,000 or more, but less than £20,000,000, of new advances for relevant regulated credit agreements;16
        1. (i) the first reporting period to which the requirement applies is calculated by reference to the quarter in which the relevant annual period ended;16
        2. (ii) the relevant annual period is the annual period in respect of which the firm first reported in accordance with SUP 16.12.29CR ;16
          1. (A) an annual total value of £20,000,000 or more outstanding for relevant regulated credit agreements; or16
          2. (B) an annual total value of £20,000,000 or more of new advances for relevant regulated credit agreements;
          1. (a) 14a SRB agreement provider; and
          2. (b) 14a P2P platform operator which facilitates entry into a regulated sale and rent back agreement where the provider does not require permission to enter into the transaction.
          SUP 16.11.4 G 01/01/2015 RP
          1. (1) A firm may submit a sales 7data report more frequently than required by SUP 16.11.3 R7if it wishes. 7
          2. (2) If it is easier and more practical for a firm to submit additional data relating to products other than those specified in SUP 16.11.5 R , it may submit that additional data to the FCA17 in a data report. 17

          Content of the report

          SUP 16.11.5 R 01/05/2024 RP

          A sales7 data report must contain sales data in respect of the following products:

          1. (1) retail investments;
          2. (2) pure protection contracts; 3
          3. (3) regulated mortgage contracts (including15 further advances (see SUP 16.11.7R(3) ) and internal product transfers and internal remortgages, irrespective of whether there is a new mortgage contract15);3
          4. (4) home purchase plans;36
          5. (5) home reversion plans; 638
          6. (6) 6regulated sale and rent back agreements;8 and168
          7. (7) relevant regulated credit agreements.16138
          8. (8) [deleted]168
          SUP 16.11.5A R 01/05/2024 RP

          7A performance data report must contain performance data in respect of:16

          1. (1) regulated mortgage contracts other than legacy CCA mortgage contracts; and16
          2. (2) relevant regulated credit agreements,16
          SUP 16.11.5B R 01/05/2024
          1. (1) Subject to (2), a back-book data report must contain data in respect of all relevant regulated credit agreements that are in force on the first day of the firm’s first reporting period within the meaning of SUP 16.11.3R(2A) .16
          2. (2) A back-book data report must not contain data in respect of a relevant regulated credit agreement which was executed on the first day of the firm’s first reporting period within the meaning of SUP 16.11.3R(2A) .16
          3. (3) A firm must only provide one back-book data report.16
          SUP 16.11.5C R 01/05/2024
          1. (1) A firm which provided a back-book data report because it was either a threshold 1 category A firm or a threshold 1 category B firm is not required to provide an additional back-book data report if it subsequently becomes a threshold 2 category B firm.16
          2. (2) A firm which provided a back-book data report because it was either a threshold 2 category A firm or a threshold 2 category B firm is not required to provide an additional back-book data report if it subsequently becomes a threshold 1 category B firm.16
          SUP 16.11.6 G 01/05/2024

          Guidance on the type of products covered by SUP 16.11.5 R , SUP 16.11.5AR and SUP 16.11.5BR 16 is contained in SUP 16 Annex 20 G.

          SUP 16.11.7 R 01/04/2021 RP
          1. (1) A data report must comply with the provisions of SUP 16 Annex 21R .15
          2. (2) But (3) to (5) apply where a firm which is required to submit a sales data report under SUP 16.11.3R(1)(a) is a PRA-authorised person which is also required to submit information to the FCA under chapter 23 (regulatory mortgage contract reporting) of the PRA’s Regulatory Reporting rules.15
          3. (3) Where the sales data report relates to a further advance, SUP 16.11.3R(1)(a) and SUP 16 Annex 21R apply to the firm only in relation to the format in which the data elements in the report are to be submitted to the FCA.15
          4. (4) Where the sales data report does not relate to a further advance, SUP 16.11.3R(1)(a) and SUP 16 Annex 21R apply to the firm in respect of the data elements listed in (5) only in relation to the format in which the data elements are to be submitted to the FCA.15
          5. (5) The data elements are:15
            1. (a) the total amount owed by the borrower to the firm and secured on the property immediately prior to the new borrowing; 15
            2. (b) for a second charge regulated mortgage contract, the total amount owed by the borrower to third parties secured on the property; 15
            3. (c) rate to which stress test applied; and15
            4. (d) contractual reversion rate.15
            SUP 16.11.8 R 01/05/2024 RP
            1. (1) A sales data report must relate both to transactions undertaken by the firm and to transactions undertaken by an intermediary which has dealt directly with the customer on the firm’s behalf.16
            2. (2) The requirement in (1) does not apply to transactions relating to regulated credit agreements.16
            SUP 16.11.8-A R 04/06/2019

            14Where a P2P platform operator facilitates an arrangement under which a number of persons provide home finance to a single customer, either individually under separate contracts, or jointly and severally under a single contract:

            1. (1) the sales data report and performance data report of the P2P platform operator must include data in respect of the arrangement taken as a whole, as though it comprised a single transaction; and
            2. (2) the sales data report and performance data report of any firm which is the lender or provider under any separate contract forming part of the arrangement must include data in respect of that contract.
            SUP 16.11.8A G 01/01/2015 RP

            2Where the manager of an authorised AIF or a UCITS scheme9 receives business from a firm which operates a nominee account, the sales 7data report in respect of those transactions submitted by the manager9 should treat those transactions as transactions undertaken by the manager9 with the firm.

            SUP 16.11.9 R 01/01/2015 RP

            A firm must provide a 7data report to the FCA17 electronically in a standard format provided by the FCA17.

            SUP 16.11.10 G 01/04/2013 RP

            A data report will have been provided to the FCA17 in accordance with SUP 16.11.9 R only if all mandatory data reporting fields (as set out in SUP 16 Annex 21 R) have been completed correctly and the report has been accepted by the relevant FCA17 reporting system.

            Use of reporting agents

            SUP 16.11.11 R 01/01/2015 RP
            1. (1) A firm may appoint another person to provide a 7data report on the firm's behalf if the firm has informed the FCA17 of that appointment in writing. 717
            2. (2) Where (1) applies, the firm must ensure that the data report complies with the requirements of SUP 16.11 and identifies the originator of the transaction.