Global Trustee and Fiduciary Services Bite-Sized Issue 9 2026

14 AI CRYPTOASSETS EMIR FINTECH FUND LIQUIDITY OPERATIONAL RESILIENCE RETAIL INVESTMENT STRATEGY T+1 ASIA PACIFIC AUSTRALIA EUROPE NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 9 | 2026 Quick Links FCA Publish Policy Statement on Improving the UK Transaction Reporting Regime On 3 August 2026, the FCA published Policy Statement PS26/15 ‘Improving the UK transaction reporting regime’, which it says set out final rules to simplify UK transaction reporting and reduce the burden on firms. The FCA says that the new rules are designed to ensure the FCA continues to receive accurate, high-quality data while eliminating duplicative or low-value reporting. By removing unnecessary reporting, the FCA says that the changes will reduce regulatory burden and support growth and competitiveness. The FCA explains that it is making targeted changes to the scope, content and operation of the transaction reporting regime. The changes include: • Reducing the number of transaction reporting fields from 65 to 52; • Removing reporting obligations for 7 million financial instruments which are only tradeable on European Union trading venues; • Removing foreign exchange derivatives from the scope of reporting requirements, reducing costs for over 400 UK firms; • Reducing the default back reporting period from 5 to 3 years. This will lower the number of transaction reports that need to be resubmitted to the FCA by a third; • Exempting most corporate actions from reporting obligations; • Requiring trading venues to populate fewer fields in their transaction reports, simplifying information provided by over 2,200 international firms when accessing UK financial markets; and • Creating a new framework for Conditional Single-Sided Reporting. The changes will take effect on 3 April 2028 . The FCA says that this will give firms adequate time to prepare, test and implement updated reporting systems. However, the FCA also says that a flexible supervisory approach will allow firms that are ready to make certain changes sooner. Link to PS26/15 here