In the news: Simon Appleton on FCA’s latest Market Watch 70 newsletter
Following the FCA’s publication of its latest Market Watch newsletter and its heavy focus on transaction reporting, Kaizen’s Director, MiFID II Transaction Reporting, Simon Appleton spoke to Global Investor Group about the surprisingly low number of firms that are testing their transaction reporting against the FCA’s data.
“The latest FCA Market Watch newsletter shows that less than half of the UK’s MiFID investment firms are testing the quality of their transaction reporting against FCA data, which is a clear breach of their obligations. While the FCA has seen improvements in transaction reporting, today’s comments show that the regulator’s expectations around transaction reporting are increasing, and robust and comprehensive testing must be in place for all firms. There are no excuses.”
