New rules cutting transaction reporting requirements are set to save the industry more than £100 million every year, and the regulator didn’t bury the lead — the annual cost of MiFID transaction reporting drops from £493 million to around £385 million. The rule changes, which take effect April 3, 2028, trim the number of required transaction reporting fields from 65 down to 52. AdvertisementThe FCA is also cutting the correction window for historical transaction reporting errors — down from five years to three. Frequently Asked Questions When do the FCA’s new transaction reporting rules take effect? How many transaction reporting fields is the FCA removing?