AFB Virtual Seminar: Proposed Changes to the Transaction Reporting Regime

AFB, in partnership with BDO, invites members to attend a virtual seminar on the FCA’s proposals for changes to the transaction reporting regime, published in November in CP25/32 – Improving the UK transaction reporting regime. All banks operating in the UK will be impacted by these changes.

Following the FCA’s Discussion Paper (DP24/2) published in November 2024, the FCA is suggesting the streamlining of some of the reporting obligations, including changes to the scope of reportable transactions, the number of fields in transaction reports, and the default back reporting period. This session will provide an overview of the proposed changes, as well as the opportunity to ask questions virtually. 

Why attend?

Specifically, the session will cover the following proposed changes:

• reducing the number of transaction reporting fields from 65 to 52
• reducing the reporting obligations for 6 million financial instruments, which are only tradeable on EU trading venues 
• removing FX derivatives from the scope of reporting requirements 
• reducing the default back reporting period from 5 to 3 years 
• reducing the number of instrument reference data fields from 48 to 37
• removing the obligation on systemic internalisers to submit instrument reference data proposing 

Who should attend?

This session is aimed at those working in Operations or Compliance functions and those with a specific responsibility within the transaction reporting process.

Speaker

Osita Egbubine, Associate Director
Osita leads BDO’s Transaction Reporting proposition within BDO’s Financial Services Advisory practice. He has over 11 years’ experience supporting UK financial services firms with their regulatory compliance frameworks with particular focus on MIFIR / MIFID II. He also leads assurance and advisory engagements on the effectiveness of firms’ transaction reporting frameworks. Osita regularly engages with the FCA and industry bodies on regulatory reporting matters and speaks regularly at BDO events. This gives him deep insight into the challenges that financial institutions and corporates face when it comes to regulatory reporting.

Logistics
 
Fee:            Included in AFB membership
Format:       Online via Zoom
Date:           Thursday 15 January 2026
Time:           09:00 – 10:15

To submit a question for the session, please email the AFB at secretariat@foreignbanks.org.uk. You will receive details on how to join this virtual session a week before the event.