Define: Standing Data

UK Accounting Glossary

Definition: Standing Data


Quick Summary of Standing Data


Information held on file in a computer for long-term use because it does not often change.



What is the dictionary definition of Standing Data?

Dictionary Definition


Information that is stored on file in a computer for long-term use as it does not frequently change. An example is the names and addresses of clients.


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Full Definition of Standing Data


Standing Data

Standing data is a master file consisting of names of firms and trading, web addresses, data of accounting references, auditors, locus, contacts and addresses.

Essentially, standing data is data that does not often change, perhaps names and addresses of clients. This is then stored and referred to at later times.

Standing Data in relation to the Financial Conduct Authority

Standing Data is all the information that the FCA has about your business that it then stores on their user management system CONNECT and on the FCA register. Within the FCA handbook, it states that all financial service providers must check the accuracy (and make changes if the standing data is incorrect) within 30 days of their accounting reference date. In the event that you find that your standing data is outdated, using the appropriate forms you must update your standing data for the FCA.

Common examples of the standing data that the FCA holds onto are as follows:

  • appointed agents or representatives
  • any FCA permissions that are active
  • trading names
  • Individuals that hold a controlled function
  • Company contact details
  • the registered name of the business
  • the businesses trading name(s)
  • which country the business was incorporated
  • where the registered office is located
  • principal place of business
  • the companies website address
  • the companies telephone number
  • the name and contact details of the companies complaints contact
  • the name and contact details of the main compliance contact
  • name and address of the companies auditor
  • Your companies accounting reference date

It should be noted that it is your responsibility to make sure that the FCA has your standing data correct. Any changes that have been made to your companies standing data must be changed within 10 days of the change. You can make any updates and changes to your companies standing data online through the FCA’s Connect service. The FCA refers to your companies standing data as ‘Firm Details’. This data they then publish on the Financial Services Register.


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Examples of Standing Data in a sentence


All firms directly authorised with the Financial Conduct Authority (FCA) must periodically check their standing data to ensure that it’s compliant with FCA regulations.

If any standing data is incorrect, a firm must submit the corrected standing data to the FCA within the prescribed period of time.

This Schedule 2 details all the Standing Data that needs to be provided by the user.


Standing Data FAQ's


What is standing data?

Standing data is information that is stored by a business or entity that does not often change. For example, client lists. With regards to standing data and the FCA, it is the information that they store about your company which they then publish for the public record on the Financial Services Registry.

Is standing data and firms details the same?

The FCA no longer refer to Firms Details as Standing Data. However, for the purposes of the FCA these two are essentially the same, they just now refer to standing data as ‘Firm’s Details’.


Cite Term


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https://payrollheaven.com/define/standing-data/
Modern Language Association (MLA):
Standing Data. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 20, 2019 https://payrollheaven.com/define/standing-data/.
Chicago Manual of Style (CMS):
Standing Data. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/standing-data/ (accessed: September 20, 2019).
American Psychological Association (APA):
Standing Data. PayrollHeaven.com. Retrieved September 20, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/standing-data/

Definition Sources


Definitions for Standing Data are sourced/syndicated from:


This glossary post was last updated: 4th May 2019.