FCA’s Consultation Paper proposes reforms to simplify UK transaction reporting, cut compliance costs by over £100M, and enhance data quality for detecting FC and market abuse – feedback by 20 Feb 26

Under consultation paper CP25/32, the FCA seeks to streamline the UK transaction-reporting regime by narrowing its scope to instruments traded on UK venues, removing mandatory reporting for FX derivatives, and cutting required data fields (reducing transaction-reporting fields from 65 to 52). It also proposes shortening the window for resubmitting corrected reports from five to three years (with a longer period possible for serious failures), and aligns future reforms with a broader plan to integrate reporting across multiple regimes including MiFIR…