Nine US financial regulators finalise joint data standards under 2022 transparency law

Nine federal financial regulators, from the SEC to the Fed and CFPB, have finalised the joint data standards mandated by the Financial Data Transparency Act of 2022. The rule fixes common identifiers and transmission formats so filings become interoperable across agencies. This segment covers what the rule binds and the practical reporting work it sets in motion for regulated firms.

• Joint final rule adopts uniform technical standards for data reported to nine US financial regulators, as required by the Financial Data Transparency Act of 2022.
• Standards establish common identifiers for entities, geographic locations, dates, and certain products and currencies.
• A principles-based joint standard covers data transmission and schema and taxonomy formats to enable machine-readable submissions.