The Interim Working Group (IWG) advising on the UK Financial Conduct Authority's (FCA) Credit Information Market Study has issued a formal response to the FCA's feedback on its final report regarding the establishment of the Credit Information Governance Body (CIGB). The IWG welcomes the FCA's support and acknowledges its recommendations, confirming these will be communicated to the newly appointed CIGB staff. The response addresses key areas including supporting positive outcomes for financial inclusion, effectiveness reviews for the CIGB, Memoranda of Understanding (MoUs) between the FCA and CIGB, decision-making safeguards, funding transparency and commercial data governance. While the IWG agrees with the FCA's emphasis on inclusive and transparent governance, it notes that certain initiatives, such as early MoUs and effectiveness reviews, may be delayed due to resource constraints during the CIGB's initial operational phase.
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