Yesterday the FCA announced that it was imposing a record fine on Merrill Lynch for continued failures in its transaction reporting. The bank has been fined £1.50 per line of incorrect or non-reported data - a higher than usual fine due to its repeated failures to address the root cause of the issue.

Since SPARKL’s Sequencing Engine could help stop this happening again, (providing a clean, connected audit trail), we watch this story unravel with great interest!

See Finextra’s article for more detail.

Photo courtesy of Getty Images.