Britain's Financial Conduct Authority has been discussing plans to overhaul its reporting requirements with some of the world's biggest credit groups, the Financial Times reported on Wednesday.
Several groups, including Apollo (APO.N), Blackstone (BX.N), Carlyle (CG.O), Goldman Sachs Asset Management (GS.N), and KKR (KKR.N) have voluntarily agreed to provide data to the Bank of England in a stress test of how the $16 trillion global private equity and private credit industries would deal with a major financial shock.
The FCA has been in talks with some of the groups about providing it with much of the data they're providing to the Bank of England on a more regular basis, the newspaper added.
The British watchdog was looking to improve the quality of information it collected from private credit groups, while also streamlining the Alternative Investment Fund Managers regulation, the newspaper said.
