FCA and Bank of England name members of reporting taskforce

The Financial Conduct Authority and the Bank of England have appointed members to a Transaction and Post-trade Reporting Harmonisation Taskforce. The taskforce will inform a long-term approach to harmonising transaction and post-trade reporting requirements across UK MiFIR, UK EMIR and UK SFTR.

The taskforce is organised into three working groups: Policy, Strategy and Architecture. The Policy group will focus on regulatory design and oversight. The Strategy group will consider market implications and implementation priorities. The Architecture group will address data, systems and technical standards needed to support consistent reporting.

The Policy working group is co-chaired by Helen Packard, head of market oversight data & intelligence at the FCA, and Julia Giese, head of financial markets infrastructure analytics at the Bank. Membership includes representatives from trade associations, law firms, market infrastructure providers and buy- and sell-side firms such as AFME, AIMA, Barclays, Citigroup, Dechert LLP, ANNA & DSB, DTCC, the Futures Industry Association, ICE Futures Europe, ISDA, ISLA, J.P. Morgan, Vanguard and Bloomberg.

The Strategy working group is chaired by Dominic Holland, director, enforcement & market oversight and wholesale sell side at the FCA, and Nicholas Butt, head of market based finance at the Bank. Its members include senior compliance and regulatory reporting leads from BlackRock, Citadel, Deutsche Bank, Goldman Sachs, HSBC, LCH, Macquarie, MarketAxess, Societe Generale, Standard Chartered, Tradeweb and UBS.

The Architecture working group is jointly chaired by Richard Cutress and Khalid Ledgister of the FCA and John Aveson of the Bank. Participants include technical and data specialists from the Derivatives Service Bureau, Deutsche Bank, EVIA, Finalto, ICE Clear Europe, J.P. Morgan Asset Management, Morgan Stanley, SIX Group, Citadel Securities, Gentek AI, London Stock Exchange Group and REGnosys. The group will work on data models, reporting architectures and technical interfaces.

The working groups are supported by the FCA’s Transaction & Position Reporting Team and the Bank’s Financial Market Infrastructure Data Team. Members have been appointed in a personal capacity and will operate under objectives set out in the taskforce’s terms of reference to guide future harmonisation of transaction and post-trade reporting across the three UK regulatory frameworks.