FCA Market Watch 59

On 17 April 2019, the FCA published the latest issue of Market Watch (no. 59), its newsletter on market conduct and transaction reporting issues. This issue of Market Watch covers: transaction reporting observations from the FCA. The FCA discusses some of the issues its Markets Reporting Team have found regarding the accuracy and completeness of transaction reporting and instrument reference data. The FCA stresses the importance of market participants maintaining adequate procedures, systems and controls to meet their transaction reporting obligations; telephone recording and retention. The FCA has observed that some firms have not properly ensured that conversations are being recorded, despite having telephone recording systems installed. In some cases, several months passed before firms realised that telephone conversations were not being correctly recorded due to system failings. The FCA reminds firms of the importance of ensuring that they have the systems in place to…

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