On 23 May 2025, the Credit Information Market Interim Working Group (IWG) published a report in response to the Financial Conduct Authority’s (FCA) Credit Information Market Study final report, which sought enhancements to the industry’s governance model. The report sets out recommendations for the design and operations of the new governance framework of the credit information industry, the Credit Reporting Governance Body – CRGB. The report will be shared with the FCA for consideration and their feedback on the recommendations contained in the report will be published. Any amendments needed to the IWG’s recommendations in light of this feedback will also be published. The FCA and IWG have also issued a joint statement on the approach and timing of the IWG’s work including essential transition activities.