The Financial Conduct Authority is weighing a new quarterly reporting mandate for private credit firms in the UK, a move that would significantly ramp up transparency requirements in one of the fastest-growing corners of alternative finance.
The proposed regime would require firms to disclose detailed data on portfolios, valuations, covenants, and loan terms on a quarterly basis.
From semi-annual to quarterly: what’s changing
Right now, reporting obligations for private credit firms under the existing Annex IV framework are predominantly semi-annual or annual. Larger entities already file quarterly, but the bulk of the market operates on a more leisurely disclosure schedule.
The FCA wants to change that across the board. The regulator has pointed to a March 2025 multi-firm review of private market valuation practices as the foundation for these proposed requirements.
