FCA transforming data collection

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.

Source: FCA