29th November 2011

BBA’s response to FSA’s consultation on the TRUP version 3

The BBA and FOA welcome the opportunity to respond to the FSA’s guidance consultation on the Transaction Reporting User Pack.

Our members recognise the importance of an effective reporting regime which supports the FSA in meeting its statutory objectives in the detection of market abuse and prevention / detection of financial crime. We are keen to continue to work closely with the FSA as our member banks have a wealth of experience regarding the practical implications of introducing some of the suggested changes and therefore continue to appreciate the opportunity to participate in consultations. We believe this dialogue between the regulator and the industry supports the ability of the FSA to lead Regulatory Reporting policy formulation in Europe.

Please read our full response via the link below.