Data, Regulatory Reporting

The Importance of Data Validation
for an Effective Regulatory Control Framework

In Partnership with

SMARTSTREAM

Published

OCTOBER 2021

About the Whitepaper

With today's rules necessitating the implementation of robust control frameworks, it's vital for firms to have the proper reporting mechanisms in place as well as ensure that they are being governed by robust control points. Since accurate data is key to accurate reporting, those control points need to take into consideration the health of a firm’s data. The constant introduction of new regulations can make it particularly challenging for firms to stay up to date with new changes whilst maintaining a high standard of accuracy in their reporting. Managing data is also a challenge, especially when it is being accessed across multiple systems. To ensure accurate, complete, and timely reports, it’s important for firms to have a strong data quality component as part of their control frameworks. Firms that fail to act on data validation and maintaining data accuracy face the risk of imposed fines and so it is crucial for firms to uphold a high regulatory reporting standard.

In response to this Connect Global Group and Smartstream gathered an expert panel so discuss:

The key components to a good control framework
How firms are currently navigating the regulatory environment
Challenges firms face when dealing with data, reporting and regulations
How firms can tackle these challenges and maintain strong data accuracy and a robust control framework

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About our Partner

SmartStream is a global software and managed services provider that in challenging markets conditions has outpaced its rivals in the financial markets sector, creating an impressive base of more than 1,500 customers. This includes more than 70 of the world’s top 100 banks alongside the world’s leading asset managers, custodians and broker dealers.

At the heart of this success is the ability to react to client, market and regulatory changes through innovative solutions. That is why, even in challenging market conditions, the company continues to invest more than 20% of revenue back into research and development.

The combination of SmartStream’s post-trade processing solutions, together with its unique Data Management Services, creates a real-time and pre-emptive approach to reducing trade failures while also accelerating and automating trade processes.