The decision follows a ‘consultation response’ to review the frequency of regulatory returns observed by all licence holders. As such, the Commission will amend Licence Condition 15.3.1 to impose mandatory quarterly submissions to improve the “harmonisation of reporting periods and to achieve unified submission dates”.
Quarterly submissions will enable the Commission to improve its budget and forecasting “through an improved ability to understand income levels on a more regular basis”.
Further advantages will allow the Commission to gather more frequent datasets from operators in a timely and accurate manner to help enhance its understanding of industry trends.
Implementing the changes, the process of submitting returns will be simplified, supporting an easier system to maintain for the Commission, which seeks to align reporting periods, and imp..