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Data quality issues persist at firms according to the FCA

Montage with the FCA logo and a street sign.
GRIP Montage: FCA/Getty Images

The regulator praises firms for improving the quality of transaction reporting, but points to continuing or recurring reporting issues.

According to the FCA’s observations in Market Watch 81, the issues are often caused by weaknesses in specific business areas connected to operations and data including:

  • change management;
  • reporting process and logic design;
  • data governance;
  • control frameworks; and
  • governance, oversight and resourcing.

The regulator has noted that data quality issues,

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