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.

Source: FCA