UK · Adopted · Impact 47/100 · Expected in force 2028-04-03
Banks, investment firms and trading platforms will soon send the UK regulator far less detail on every trade — required data fields drop from 65 to 52, and reports on FX derivatives and 7 million EU-only-traded products are scrapped. This affects investment firms, exchanges and firms reporting on their behalf, not individual customers. Rules become law 3 April 2028, with a more flexible approach starting 3 August 2026, saving the industry over £100m a year.
Who this affects: investment firms and banks, foreign exchange derivatives traders, stock exchange operators, firms reporting trades for others
What to watch: If your firm submits trade reports to the UK regulator, start reviewing your systems now — a consultation on the new format is due October 2026, ahead of the 2028 rules.
Only financial firms are affected — investment firms, trading venues and firms that submit trade reports on their behalf. It does not directly change anything for individual consumers or savers.
The new regime comes into force on 3 April 2028, though the regulator plans a more flexible approach to enforcement in some areas starting 3 August 2026.
The number of reportable data fields drops from 65 to 52, reporting on 7 million EU-only-traded instruments is scrapped, foreign exchange derivatives are removed from scope entirely, and the back-reporting period drops from five years to three.
It is final — this is the regulator's Policy Statement setting out adopted rules, not a proposal. A further consultation on technical details like the reporting schema is due in October 2026.
Official title: PS26/15: Improving the UK transaction reporting regime (PS26/15)
Source: official record