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FCA finalizes rules to ease transaction reporting burden and cut costs

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Changes will save firms millions every year in reporting costs. Photo: Finnbarr Webster/Getty Images

Hameed Shuja

2 min read
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Regulator says new rules will pave way for smarter, simpler, more proportionate transaction reporting requirements, while preserving ability to detect misconduct.

The UK’s financial regulator has announced a set of changes to its transaction reporting framework that could reduce firms’ reporting costs by more than £100m ($134m) per year.

The FCA said the updated rules will reduce the current annual cost of MiFID transaction reporting, which is estimated to be around

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