Reconciliations: The forefront of regulatory compliance procedures

Maryse Gordon
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Maryse Gordon: Business Development Manager, Data and Analytics, Information Services, London Stock Exchange Group, USA

Journal of Securities Operations & Custody, 2016, vol. 8, issue 4, 356-363

Abstract: Establishing a control framework for protecting the integrity of data that is used to monitor the financial services market is a top priority for regulatory reporting entities. Demonstrating there are adequate operational procedures surrounding the management of data reporting, alongside an efficient and robust technical infrastructure are key components to proving compliance with regulatory reporting obligations around the world. Accuracy, completeness and timelines of data submissions allow regulators to effectively monitor the industry for malpractices, and forms the basis for investigations, fines and enforcement actions. As regulation continues to evolve, requirements become more complicated, deadlines become tighter, and regulators become less tolerant, a spotlight is shone on data quality. How can firms ensure quality data is being captured and reported? How can firms reduce the risk of regulatory scrutiny as a result of erroneous data? Identifying a framework to safeguard the integrity of data throughout an organisation, and ensuring the end-to-end workflow of data transformation is validated through standardised reconciliation processes is an activity high on the agenda within the industry.

Keywords: reconciliation; operations; compliance; regulation; reporting; integrity; data (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2016
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