The current edition of Market Watch covers a range of issues, including:

  • data integrity – FSA has fined seven firms for transaction reporting breaches since mid-2009;
  • outsourcing arrangements and firms’ obligations under the Senior Management Arrangements, Systems and Controls Sourcebook;
  • default time – which FSA says firms should use only as a last resort;
  • reporting “life-cycle” events on OTC derivatives – FSA plans to discuss the new ESMA requirements with firms; and
  • pricing CDS – again FSA plans to work with industry to set a date for implementing the new technical standards.

(Source: Market Watch Issue No. 38)