FCA Discussion Paper – Improving the UK transaction reporting regime

The blog post discusses recent proposals by the UK Financial Conduct Authority (FCA) to amend the MiFIR transaction reporting regime in light of the UK’s regulatory divergence from the EU post-Brexit. Key proposed changes include expanding reporting obligations to UK AIFMs and UCITS management companies offering certain services, introducing new identifiers for securities linked to distributed ledger technology (DLT) and crypto assets, and requiring client/counterparty categories in reports. The FCA also explores ways to reduce reporting costs for small firms, minimize duplication with other reporting regimes, and adopt alternative technologies like JSON for improved reporting. Stakeholders are invited to submit feedback by February 14, 2025.

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