This month, the UK Financial Services Authority (FSA) has indicated that transaction reporting firms under MiFID will need to obtain a bank identifier code (BIC) in order to be in compliance with wider European level regulations. The regulator has also recently noted that some firms are incorrectly populating their counterparty and customer or client identification fields when reporting principal trades. It was created in 1973 supported by 239 banks in 15 countries. BIC + IBAN international bank transfers are faster, more efficient, and low-cost as they are sent directly through the SWIFT interbank network without using intermediary banks (who deduct charges or fees for their service). The codes can sometimes be found on account statements. BIC have released a new set of codes (BIC Version 2) for categorising titles.

Country	City	Bank Name	Branch	SWIFT
United Kingdom	London	Doughty Hanson and CO Technology Limited	Doughty Hanson and CO Technology Limited	DOHTGB21XXX