Regulatory Alerts2013-01-01 | FIN-FSA Regulations and guidelines 26/2013Guidelines on Common European Reporting (COREP) Data Accuracy and Verification
The Financial Supervisory Authority (FIN-FSA) mandates that supervised entities prepare and sign a declaration confirming the accuracy of their COREP data submissions. This requirement ensures that reporting processes are verified by personnel distinct from those preparing the reports, with specific details on data sources and storage methods. Continued submission of incorrect data triggers requests for clarification and action plans, with potential administrative sanctions for non-compliance.
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