On 5 August 2013, the FCA published a Transparency Framework Feedback Statement to its earlier Transparency Discussion Paper. The Discussion Paper, which was published in March 2013 (as referred to in the 14 March 2013 Fortnightly Financial Newsletter), set out the regulator’s approach to transparency and sought views on how transparency and more effective disclosure could be achieved. The Feedback Statement outlines the feedback received, proposes new ideas for improving transparency and sets out the timescales for achieving the same. In particular, the FCA has stated that it will publish reports on its supervisory activities more regularly from April 2014 and will also consider publishing more information on its enforcement activities, including how it calculates fines.