A total of 546 firms have admitted to errors in their MiFID II transaction reporting to the FCA since the new requirements began just under two years ago, according to a study out today.

The FCA has revealed it received 4.29m complaints in the first half of 2019.

The CII has backed a report by the Centre for Data Ethics and Innovation stating the profession must engage with the public to reach a consensus on what constitutes a responsible use of AI and data.

FCA figures have shown a fall in the number of complaints about regulated firms.