The FCA has published a new webpage concerning CRD IV reporting.
The webpage states that the FCA and PRA will be activating 317 new validations on 17 December 2014. The FCA explains that all of these new validations will be set to ‘ERROR’, which means that the European Banking Authority validation rule will be applied to them. If they do not pass, a firm’s submission will fail and it will receive an error message.
The FCA mentions that the new list contains two validations that are no longer effective for taxonomy 2.2 submissions. This is due to their status being unclear at the time the list of new validations was being developed. These validations are currently set to ERROR but may be removed at a later date.
The FCA also discusses improving data quality and lists some common errors that can occur and may result in a request for files to be resubmitted. Firms are reminded that they should adhere to the FCA filing rules noting that they are likely to become compulsory in the future.
View CRD IV reporting – New validations and data quality, 4 December 2014