It is no secret that many financial firms are facing significant issues with their data when it comes to performing compliance functions like trade reconstructions.
Frequently, when reconstructing the conditions surrounding a trade or order, compliance teams struggle to locate the data requested by the regulator. Internal data often sits in silos and can be difficult to track down. External data can be even more challenging.
The second challenge is larger – ensuring the data is high quality, accurate and valid. Data quality issues have become significant - with poor quality of transaction reporting data being highlighted by regulators on a frequent basis.
So, what can be done to improve data governance for enhanced compliance? There are 5 main steps to great Compliance Data Governance which we have highlighted in this e-book.