Art. 6 Data quality | ITS on cooperation for the purposes of direct supervision | AML

This article establishes the data quality control framework that must be applied before financial supervisors submit data points to the Authority, as required under Article 5.

It sets out a shared responsibility model: financial supervisors must run validation, data quality, and plausibility checks before submission, while the Authority is responsible for defining the specifications and standards those checks must meet.

The article also draws a clear line on data integrity — the Authority cannot alter received data, meaning any corrections must come back through the financial supervisor via resubmission.

Important points:

Financial supervisors are required to apply validation rules, data quality checks, and plausibility checks before submitting data points, and must provide an explanation to the Authority where data quality cannot be ensured or information is incomplete.
The Authority provides the data exchange specifications, submission procedures, and minimum data quality standards, and may refuse submissions where inconsistencies are identified after submission.
The Authority shall not alter information received from financial supervisors — where a significant revision is needed, the financial supervisor must resubmit the data points.

1. Before submitting the data points to the Authority, financial supervisors shall apply:
  1. validation rules;
  2. data quality checks;
  3. plausibility checks,
2. as jointly defined by the Authority and the financial supervisors.
1. Submissions that do not meet the validation rules or data quality checks or that have unexplained inconsistencies identified during the plausibility checks referred to in paragraph 1 may not be accepted through the delivery channel.
1. The Authority shall provide the data exchange specifications and related submission procedures for financial supervisors to implement and verify the compliance of the data they intend to submit including the validation rules, data quality checks and plausibility checks referred to in paragraph 1, and the minimum levels of data quality required and the circumstances and timelines under which significant data revisions are deemed necessary.
1. Where the data quality cannot be ensured or where the information submitted is incomplete, financial supervisors shall provide the Authority with an explanation. The Authority may refuse the information referred to in Article 3(1) if inconsistencies are identified during data quality controls performed after the submission.
1. The Authority shall not alter the information received from financial supervisors. Where a significant revision is necessary, the financial supervisor shall resubmit the data points in accordance with the procedure shared by the Authority.

Article 6 Data quality

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