inaccurate or incomplete transaction reports from one broker, out of 927,502 - traced to an incorrect system configuration
FCA FINAL NOTICE, AUGUST 2025
fine issued to a single investment bank for transaction reporting failures
FCA ENFORCEMENT
industry data quality breaches recorded in one week, testing only four reportable fields
FCA Transaction Monitoring Unit, Market Watch
data fields required in ISO 20022 XML under the ASIC reporting rewrite, live since 21 October 2024
ASIC Derivative Transaction Rules (Reporting) 2024
The FCA has fined firms for transaction reporting failures under MiFIR, including a case where nearly every reportable transaction over five years was wrong because of a configuration set at go-live and never revalidated. Its Transaction Monitoring Unit publishes breach volumes drawn from testing only a handful of fields.
The ASIC 2024 reporting rules and the MAS rewrite went live on the same day, 21 October 2024, moving reporting to ISO 20022 XML, expanding lifecycle reporting to nearly all OTC derivatives and aligning entity, product and transaction identifiers with EMIR and other regimes. Further ASIC changes followed on 20 October 2025.
Saudi Arabia’s Capital Market Authority opened the market to all categories of foreign investor from 1 February 2026, removing the Qualified Foreign Investor gate on a market capitalised at around $2.7 trillion. Every new investor category is a new account structure, tax treatment and reporting profile.
The same client held in four systems
Set once at go-live, never revalidated
LEIs, UTIs and UPIs maintained by hand
The month ends with a spreadsheet
A different pack for every market
Proving the number after the fact
User-defined posting rules, periods and account groups, configured rather than coded.
Aggregated, standardised clearing data instead of counterparty-by-counterparty formats.
Scheduled automatic generation of regulatory reports, with ad-hoc and historic runs.
Multi-currency, transaction and value date accounting across entities.
Global and report-specific static data maintained in one place, not per report.
Real-time balance and transaction enquiry for the question that arrives mid-audit.
Double-entry for stock and cash, posted from the transaction that created it.
One central repository holding imported data across every market you run.
Periodic client statements in user-defined formats.
Balances exported to your general ledger under your own consolidation rules.
File and real-time API adaptors so upstream systems feed the same record.
A standard report pack per major market, not a bespoke build each time.
User-defined posting rules, periods and account groups, configured rather than coded.
Double-entry for stock and cash, posted from the transaction that created it.
Multi-currency, transaction and value date accounting across entities.
Balances exported to your general ledger under your own consolidation rules.
Aggregated, standardised clearing data instead of counterparty-by-counterparty formats.
One central repository holding imported data across every market you run.
Global and report-specific static data maintained in one place, not per report.
File and real-time API adaptors so upstream systems feed the same record.
Scheduled automatic generation of regulatory reports, with ad-hoc and historic runs.
Real-time balance and transaction enquiry for the question that arrives mid-audit.
Periodic client statements in user-defined formats.
A standard report pack per major market, not a bespoke build each time.
01
Reports built from the book of record, not from a copy of it that drifted.
Reports built from the book of record, not from a copy of it that drifted.
02
Balances and positions available in real time instead of assembled at period end.
03
Every balance traceable to the transaction and the rule that posted it.
Every balance traceable to the transaction and the rule that posted it.
04
Add a jurisdiction by configuring a report pack and posting rules.
05
The people checking two systems against each other are doing work the platform removes.
The people checking two systems against each other are doing work the platform removes.