Changes to Annual Compliance Report for Regulated Pub Companies
The Pubs Code requires all Code Compliance Officers from the regulated pub companies to submit an annual compliance report to the PCA relating to each financial year. This year we have made improvements to the report format and to the data we are collecting. These changes will not only help the PCA to monitor compliance more effectively, but they will provide more meaningful information and insights for the industry.
This new report format applies to the latest annual compliance report covering the period of 01 April 2020 to 31 March 2021.
What has changed?
We have made a number of changes to provide greater clarity and detail about how a pub company has complied with the Code over the financial year. The new format includes a detailed breakdown of any alleged Code breaches by regulation, the number that the pub company accepted had occurred, and the steps it took in relation to these breaches. It also requires the pub company to explain in more detail how it has complied with specific duties across the Code. This includes steps it has taken to improve Code-related arrangements following published PCA information, advice, guidance, and regulatory activity.
This annual compliance report offers a clear benchmark from which the PCA can monitor trends over time, and more easily compare compliance across the regulated pub companies. It further reinforces the Code Compliance Officer’s responsibility to verify their pub company’s compliance with the Pubs Code and to address any issues proactively.
Head of Regulation Development and Compliance, Agnieszka Scott said:
Pub companies not only need to demonstrate effective compliance to the PCA as regulator, but to their tied tenants and the wider industry too. This new report format provides even greater transparency and accountability.
The PCA and I appreciate the Code Compliance Officers’ efforts in completing the new report format, and we are now looking closely at what these reports tell us.
Where can I read the annual compliance reports?
Each pub company is responsible for verifying the information in its compliance report. As such, information from compliance reports is made publicly available by the pub companies on their websites. Pub companies have now started publishing their annual compliance reports for 01 April 2020 to 31 March 2021.