UK SFTR validation rule revisions will not crack the data quality conundrum
Monday 11 April saw revised Securities Financing Transactions Regulation (SFTR) validation rules come into force for UK SFTR. Kaizen’s Senior Regulatory Reporting Specialist, Jonathan Lee, spoke to Securities Finance Times.
“Be aware that the validation rules are the most basic conditions that need to be met to submit transaction and lifecycle event reports to a trade repository; they do not offer any further guarantees that reporting is complete or accurate.
“The data quality concerns are amplified every time we test valid but wrong reports (that have passed the validation rules at the trade repository) but still contain incorrect data.”
