GDF responded to the FCA’s DP24/2: Improving the UK transaction reporting regime. Overall, GDF is supportive of the aim of the discussion paper, however we would note given our focus on digital finance issues we have focused our response on the areas of the DP that relate to digital matters.
The UK working towards improved transaction reporting is a necessary complement to the broader UK financial services regulatory framework and we support the Financial Conduct Authority (FCA) in its aim. The DP is an important step towards matching the evolution that has occurred and continues to occur at pace in financial markets.
GDF worked with our members to provide constructive feedback for the digital aspects of the DP and in particular digital token identifiers (DTIs). The key area our response focuses on is:
1. GDF supports the use of globally recognised ISO standard like the DTI.