The UK Financial Services Authority (FSA) has fined Commerzbank £595,000 for transaction reporting failures stemming from underlying data errors, including the use of multiple internal codes for the same counterparties. The German bank’s fine may be a fraction of the £2.45 million imposed on Barclays last year (see here), but it indicates that the regulator is continuing to focus on the data details of the reports that it receives from the industry.

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