Financial services firms face increasing pressure to ensure regulatory filings are accurate, complete, and submitted on time. Even minor data issues can lead to rejected transactions, operational delays, and increased administrative burden.
To help firms proactively identify data quality issues before submission, RegEd’s Xchange is launching the FINRA Transaction Completeness Check, a powerful new capability designed to validate securities transaction data prior to submission to FINRA.
Available to all Securities Xchange clients, this enhancement helps firms strengthen their compliance processes, reduce transaction rejections, and streamline securities operations, all at no additional cost.
Proactively Identify FINRA Transaction Issues Before Submission
The FINRA Transaction Completeness Check performs a pre-submission validation when a transaction is ready to be sent to FINRA. By leveraging the same completeness checks used by FINRA through CRD and FINRA Gateway, firms can identify potential issues earlier in the process and take corrective action before submitting transactions.
The validation process helps uncover common issues that can result in rejected or delayed submissions, including:
- Missing required information
- Data formatting errors
- Employment history gaps
- Incomplete address information
- Other transaction data quality issues identified by FINRA
By addressing these issues upfront, firms can significantly improve transaction accuracy and reduce the risk of compliance-related delays.
Reduce FINRA Transaction Rejections and Resubmissions
Rejected FINRA transactions often require time-consuming investigation, correction, and resubmission efforts. These disruptions can create operational inefficiencies and delay important registration and compliance activities.
With FINRA Transaction Completeness Check, firms can:
- Validate transaction completeness before submission
- Identify missing or invalid information sooner
- Reduce FINRA transaction rejections
- Minimize manual troubleshooting and rework
- Improve operational efficiency across compliance teams
- Increase confidence in regulatory submissions
Rather than discovering problems after submission, firms gain visibility into potential issues earlier, enabling faster resolution and a more predictable compliance workflow.
One firm reduced its FINRA transaction rejection rate from 25% to less than 2% after implementing FINRA Transaction Completeness Check.
Built to Align with FINRA Validation Processes
One of the most valuable aspects of the FINRA Transaction Completeness Check is its alignment with FINRA’s existing validation methodology.
The feature mirrors the completeness review process already performed by FINRA and displays FINRA warning and validation messages directly within Xchange. This consistency helps users better understand submission requirements and resolve issues before transactions reach FINRA systems.
The result is a more efficient and transparent transaction review process that helps firms maintain high standards of data quality and regulatory compliance.
Strengthening Compliance Through Better Data Quality
Accurate transaction data is foundational to effective compliance management. Missing information, incomplete records, and formatting inconsistencies can increase regulatory risk and create unnecessary administrative work.
The FINRA Transaction Completeness Check supports firms’ broader compliance objectives by helping ensure securities transactions contain the information required for successful submission.
“By bringing FINRA-aligned validation directly into the workflow, we’re helping firms reduce risk, improve operational efficiency, and spend less time resolving avoidable submission errors. This enhancement allows customers to approach FINRA transaction processing with greater confidence while strengthening the quality of the data used throughout their compliance operations.”— Allison Harris, Principal Product Manager
Looking Ahead
As regulatory expectations continue to evolve, firms need tools that help improve accuracy, reduce risk, and simplify compliance processes. The launch of FINRA Transaction Completeness Check delivers exactly that, empowering compliance and operations teams to identify issues earlier, improve submission success rates, and create more efficient regulatory workflows.
With automated transaction validation built directly into Xchange, firms can spend less time correcting errors and more time focusing on their business, while maintaining confidence that their FINRA transaction data is complete, accurate, and ready for submission.
About RegEd
RegEd is the market-leading provider of RegTech enterprise solutions with relationships with more than 200 enterprise clients that represent more than 35 of the top 50 insurance companies.
Established in 2000 by former regulators, the company is recognized for continuous regulatory technology innovation with solutions hallmarked by workflow-directed processes, data integration, regulatory intelligence, automated validations, business process automation and compliance dashboards. The aggregate drives the highest levels of operational efficiency and enables our clients to cost-effectively comply with regulations and continuously mitigate risk.
Trusted by the nation’s top financial services firms, RegEd’s proven, holistic approach to RegTech meets firms where they are on the compliance and risk management continuum, scaling as their needs evolve and amplifying the value proposition delivered to clients. For more information, please visit www.reged.com.