FCA Worried by Lack of Readiness for MiFID II Reporting
UK watchdog accepts “scale of the challenge” but urges firms to “crack on” with putting data reporting apparatus in place
Speaking at a MiFID II event hosted by WatersTechnology, Hanks urged firms to make decisions about their Approved Reporting Mechanisms (ARMs) and Approved Publication Arrangement (APA) providers soon.
ARMs will become regulated entities under MiFID II, which means some of the burden for the accuracy and timeliness of the data that is reported will fall on them. Whereas in the past ARMs could be less concerned with the quality of the data flowing through them, they will now have some
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