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It was announced that the Financial Conduct Authority (FCA) has fined a large investment bank for misreporting more than 220.2 million transactions over a 9 ½ year period, the news comes less than a fortnight since a Swiss bank suffered the same fate. It is surely no coincidence that this penalty was handed out in the first quarter of the...

 The fundamental cause of any shortfall can vary considerably, from failed market settlement to internal books and records errors, often making it difficult to immediately identify shortfalls. Many firms have taken the all-inclusive approach to shortfall protection, regardless of the party at fault. From an operational standpoint this approach...