David Nowell | Source | Senior Regulatory Reporting Specialist at Kaizen Reporting

Many may be surprised that the FCA should levy such a large fine for breaches under the previous MiFID reporting regime. However, it is a clear sign of the FCA’s tenacity and determination to strive for complete and accurate transaction reporting. It is also a message that could strike fear in the hearts of many senior managers as the new MiFIR transaction regime is far more complex than the previous MiFID regime.