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Financial regulatory agencies propose rule to establish data reporting standards

man analyzing statistical business report on tablet pc
Photo: Witthaya Prasongin

Alexander Barzacanos

1 min read
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The joint rule would establish uniform data definitions, but questions remain about cost imposed on firms to update systems and records.

Several financial regulatory agencies have issued statements proposing a joint rule that would establish uniform cross-agency technical data reporting standards. The proposed rule is part of the implementation of the Financial Data Transparency Act of 2022 (“FDTA”).

The new standards would necessitate common identifiers for legal entities and financial instruments under

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