Regulatory Alerts2023-09-20
Added · Updated
PS24/3: Consumer Credit – Product Sales Data Reporting
The document introduces three new Product Sales Data (PSD) returns—Sales, Performance, and Back book—into Chapter 16 of the Supervision manual (SUP 16) for firms engaged in consumer credit lending. Reporting is required for firms with outstanding balances and/or new advances of £2 million or more, with large firms (£20 million plus) having 14 months and small firms (£2 million to £20 million) having 20 months to implement. Sales data must be submitted quarterly, while back book data is a one-off submission for agreements existing prior to the first reporting period. The rules also mandate compliance with complete and accurate reporting provisions set out in SUP 16.3.11R and SUP 16.3.12G.
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