Nick Bayley Featured in Complinet: UK FCA Sets out Expectations for MiFID II Transaction Reporting Improvement

Nick Bayley, Managing Director in Duff & Phelps Compliance and Regulatory Consulting practice, was quoted in an article by Complinet, commenting on the Financial Conduct Authority’s (FCA) recent warning to the financial services industry that it has ongoing expectations to improve MiFID II transaction reporting.

It appears the regulator is applying pressure to fix mistakes and improve quality of data. “Transaction reporting is flagged as an area of focus at the FCA. There's been a huge cost imposed on industry and now the FCA is pushing to get data quality up. There are a range of difficult issues that means it's a work in progress. This will go on and on. It will not be resolved overnight. Firms need to take a thoughtful and thorough approach to the task," said Nick.

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