FCA finalises rules to streamline transaction reporting requirements, cutting firms’ compliance costs by over £100m a year while maintaining high-quality data to support market abuse and FC detection

The reforms remove reporting obligations for certain foreign exchange derivatives and financial instruments traded only on EU venues, and shorten the timeframe for correcting historic reporting errors from five to three years. The FCA expects the changes to improve data quality, reduce duplication and create a more proportionate reporting framework while preserving…