Post 2008, banks operate in an atmosphere of increased compliance and shifting regulation. Broker-dealers and big banks need to understand the risk they are undertaking by operating in this heavily regulated environment. FINRA’s 2016 Priority Letter has a heavy focus on data quality and governance; banks need to know how to navigate these new standards. Hefty fines and censures prove that compliance is not a cost center, but rather a profit-preservation center.
In 2015 alone there were several fines levied on all levels of broker-dealers specific to data integrity and data quality issues.
Gresham Computing recently released some groundbreaking research highlighting the post-2008 compliance atmosphere and implications for data integration.
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