FCA transforming data collection
Regulatory Updates | 02/02/22
The FCA is working with the Bank of England and industry to transform how it collects data from the UK financial sector.
There are three areas of focus:
• Integrating reporting to increase consistency in designing and delivering collections for value, reuse, and efficiency.
• Modernising reporting instructions to improve how data is interpreted and implemented by firms.
• Defining and adopting common data standards that identify and describe data in a consistent way. These should be open and accessible for use by everyone.