FCA and BoE appoint Transaction Reporting Harmonisation Taskforce members
FCA and Bank of England appointed members to a taskforce harmonising transaction and post-trade reporting across UK MiFIR, EMIR and SFTR.
The taskforce will shape long-term UK reporting requirements across three major regimes via policy and technical working groups. Firms should anticipate structural changes to trade and transaction reporting fields, formats and governance.
Signals a strategic overhaul of UK post-trade reporting, affecting data, systems and compliance operating models.
Action Required
Engage with taskforce workstreams and review current MiFIR/EMIR/SFTR reporting architecture for alignment opportunities.
Cross-regime reporting harmonisation is a material multi-year change programme for wholesale market participants.
Monitor taskforce outputs and map current MiFIR, EMIR, SFTR reporting flows to anticipate harmonisation impacts on controls, data lineage and vendor arrangements.
“The FCA and Bank of England have appointed members to their Transaction and Post-trade Reporting Harmonisation Taskforce, informing long-term harmonisation across UK MiFIR, UK EMIR and UK SFTR via three working groups.”