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Liability for disclosed data Follow


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    Anthony Fitzgerald

    Thanks for sharing this information.

    Are you able clarify where liability sits when a data holder publishes incorrect or misleading Product Reference Data? 1.466 above seems to suggest the data holder has no liability. If this is the case, then what incentive exists for data holders to ensure the PRD is accurate and complies with the prescribed data structure / conventions?

    To help, I'm seeing three types of issues with PRD:

    (1) factual errors, e.g. a fee is documented as $100 when its actually $200, or a delay in the PRD being updated when a product is repriced;

    (2) misleading information resulting from non-compliance with the CDR data structure / conventions, e.g. an annual fee being classified with a feeType of "EVENT" rather than "PERIODIC" / "P1Y"

    (3) omitted information, e.g. entire products missing, or product features / details missing

    Issues such as these can lead to consumers making poor decisions based on inaccurate or misleading information.

    I look forward to your response.


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