On 3 October 2022, the Financial Conduct Authority (FCA) issued Market Watch 70. In this publication, the FCA sets out recent observations related to transaction reporting data quality and reconciliation requirements.

Today the FCA have released a joint Discussion Paper (DP) aiming to gather views to inform the UK’s authorities’ development of MMF reform proposals. The FCA are inviting feedback on the reform options discussed in the DP by 23 July 2022 and will consider this in deciding whether to consult on MMF reform proposals. The FCA has also issued new non-handbook guidance on the UK MMF Regulation.

The financial conduct authority have announced some changes to AIF001 and AIF002 reports that come into effect from the end of June 2022 following the UK's withdrawal from the EU. This is the first major schema update since 2014.