FCA and Bank of England announce data reform proposals
Released 07 January 2020
The Financial Conduct Authority (FCA) and the Bank of England (Bank) have outlined their plans to develop their data and analytics capabilities.
The FCA’s Data Strategy publication outlines the organisation’s increased focus on the use of advanced analytics and automation techniques to deepen its understanding of how markets function and allow the FCA to efficiently predict, monitor and respond to firm and market issues.
The Bank of England has published a Discussion Paper entitled Transforming data collection from the UK financial sector, which examines ways to improve the timeliness and effectiveness of data collection from firms across the financial system.
Further information on the proposals can be found at https://www.fca.org.uk/news/press-releases/fca-and-boe-announce-proposals-data-reforms-across-uk-financial-sector.