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

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