SEC Establishes Joint Data Standards as Required Under the Financial Data Transparency Act of 2022

Washington, D.C.--(Newsfile Corp. - June 8, 2026) - The U.S. Securities and Exchange Commission established joint data standards under the Financial Data Transparency Act of 2022. The final rule establishes technical standards for data submitted to certain financial regulatory agencies. Eight additional agencies have established or are expected to act on establishing the joint standards: the Board of Governors of the Federal Reserve System, the Commodity Futures Trading Commission, the Consumer Financial Protection Bureau, the Department of the Treasury, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the National Credit Union Administration, and the Office of the Comptroller of the Currency.

The joint standards are designed to promote interoperability of financial regulatory data across the agencies by establishing common identifiers for entities, geographic locations, dates, and certain products and currencies.

“The establishment of joint data standards across federal financial regulators will help ensure consistent data collection that will both ease burdens for financial institutions and make data more accessible to investors,” said SEC Chairman Paul S. Atkins.

“This action is a first step towards implementing the Financial Data Transparency Act across federal financial regulatory agencies,” said SEC Commissioner Mark T. Uyeda. “I am grateful to our colleagues across the federal government for their cooperation on this effort, which will be followed by separate rulemaking for agency-specific standards that will further improve the accessibility of financial data.”

In addition, the standards include a principles-based joint standard with respect to data transmission and schema and taxonomy formats, which would allow financial institutions to submit high-quality, machine-readable data to the agencies.