Regulations
By Evie Vavasseur
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Who's Running Each Group. The Policy group is co-chaired by Helen Packard from the FCA and Julia Giese from the Bank of…
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What the Taskforce Is Actually Trying to Fix. UK financial firms currently report transactions under several separate regimes — MiFIR, EMIR,…
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The FCA and the Bank of England just named the members of their Transaction and Post-trade Reporting Harmonisation Taskforce.
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The taskforce isn't one body. It splits into three working groups — Policy, Strategy, and Architecture — each chasing a different piece of the harmonisation puzzle.
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The Strategy group is led by Dominic Holland of the FCA and Nicholas Butt from the Bank. Adam Conn from Baillie Gifford sits in there, as does Alison Vickers of BlackRock.
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Then there's Architecture. That group is co-chaired by Richard Cutress, Khalid Ledgister, and John Aveson.
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Members are appointed on a personal basis. Worth noting: some of them work at institutions regulated by the FCA or the Bank of England, so there's an inherent tension there that…
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UK financial firms currently report transactions under several separate regimes — MiFIR, EMIR, SFTR — each with its own fields, formats, and logic.
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Related: Blue Motor Finance Collapses Into Administration as Compensation Liabilities Overwhelm the Firm
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The working groups will consult with the FCA's Transaction & Position Reporting Team and the Bank's Financial Market Infrastructure Data Team.
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Post-trade reporting reform has been on the agenda across major financial centres for years.
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The specific timelines haven't been released. No one's said when the working groups will deliver recommendations or what the implementation window looks like. That's a gap.
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Details of individual appointments are available in the Financial Services Register. That's probably the most useful place to look if you want the full list.
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And the taskforce's further comments, per the announcement, haven't been disclosed. So for now, the public-facing picture is the membership list and the high-level mandate — not…
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The Architecture group's inclusion of Derivatives Service Bureau is worth watching. DSB handles the issuance of ISINs for OTC derivatives globally, so their presence in the…
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