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An update from the Financial Conduct Authority in our role as registering authority for mutual societies.
We've published an update about our work on mutual societies. This covers the year from 1 April 2023 to 31 March 2024. We give information about the work we've undertaken in the last year. We explain changes in law. And share details of the number of societies on the register.
Most societies register on the Mutuals Society Portal. The Portal is a quick and easy way to send applications and your accounts to us.
You can have up to 5 users linked to your society. These users can submit information to us on behalf of your society. We send reminder emails to these users about key dates.
Staying up-to-date with deadlines is important for the good running of your society. We think it is good practice for societies to have more than one linked user on the Portal.
If you have not already, you can register to use the Portal using this process. This creates a personal account. You can then link your account with your society. We have a user-guide to help with the registration steps.
Your co-operative or community benefit society has directors. You may call them something else. Some societies call them trustees or committee members.
Your rules describe how to appoint or remove a director. You do not need to tell us when this happens during the year. Instead, you give us a list of your directors when you submit your return (AR30) each year.
Co-operative and community benefit societies may have to appoint an auditor to audit their accounts. The law sets out when this is the case. We have a tool on our website to help you understand how the law applies to you.
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