Incomplete data, unseen risk: Why a full data set is critical for compliance confidence
Regulatory demands on wealth managers are increasing, making complete and accurate fund data more critical than ever. Many firms still rely on partial data sets, which may meet short-term needs but create long-term inefficiencies and risk. Missing even a single data point in templates like EMT, EET, or SFDR can lead to reporting delays, internal confusion, or non-compliance. In today’s environment, partial data isn't just insufficient—it’s a liability.
When partial data creates a complete problem
Regulatory pressure on wealth managers continues to intensify. As reporting obligations grow in volume and complexity, confidence in the completeness and accuracy of your fund data is more important than ever. Yet, many firms still operate with only a partial view and receive a limited data set that covers their immediate needs but leaves critical gaps elsewhere.
To illustrate the data burden, FE fundinfo manages close to 4,000 unique fund data field types. The actual number of unique data points processed for each asset management client depends on their specific requirements and the number of funds they manage. Each fund might use a subset of these 4,000 data fields relevant to its operations, regulatory needs, and reporting.
While this may seem manageable in the short term, over time it introduces inefficiencies and increasing risk, costing organisations an average of $12.9 million per year (Gartner, 2020). A missing data field can create issues far beyond the surface. Delays, inconsistencies and compliance missteps often stem from incomplete data flows that fail to capture the full picture. In an environment where accuracy and auditability are non-negotiable, relying on partial data simply doesn’t go far enough.
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The hidden risk of incomplete data
The problem with incomplete data is that you often don’t realise it’s an issue until it causes one. Gaps in regulatory templates like EMT, EPT, EET (with its 600 fields!) SFDR or PRIIPs may appear minor but they can trigger delays in submissions, confusion across internal teams or, worse, non-compliance with distributor or regulatory requirements.
Missing a key identifier or failing to capture an updated data point can lead to misalignment across systems. And once that error feeds into client reporting or regulatory disclosure, the damage is already done. These aren’t hypothetical risks but they’re operational realities for firms trying to meet today’s cross-jurisdictional demands with yesterday’s data coverage.
Importantly, regulators won’t distinguish between intentional omissions and technical limitations. Whether the data wasn’t sourced, wasn’t processed or wasn’t received, the responsibility sits with you. That’s why relying on a partial feed – no matter how carefully maintained by the provider – can introduce blind spots that grow into systemic weaknesses.
How a full data set strengthens compliance
Expanding to a full data set removes these blind spots. With comprehensive access across static data, performance figures, portfolio holdings, regulatory templates and supporting documents, wealth management teams are equipped with the information they needs to stay aligned, informed and audit-ready.
Portfolio holdings data, in particular, is crucial for understanding the composition and strategy of investment funds. It provides detailed insights into all individual investments within a fund, including bonds, stocks, options, futures, and other assets. This data is essential for investors to evaluate the fund's performance, risk exposure, and alignment with their investment goals. By analysing portfolio holdings, investors can make more informed decisions, ensuring their investments are well-diversified and strategically positioned.
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Rather than pulling together missing data manually, or cross-checking with other sources, you can rely on a consistent, validated feed that’s delivered in your chosen format and integrated directly into your systems. This reduces overhead, lowers the risk of error and enables greater oversight of your compliance processes.
Crucially, the full data set supports your obligations across 70+ jurisdictions and regulatory standards. That means fewer last-minute scrambles to meet template deadlines, fewer manual interventions and more time focused on high-value activities. With everything in place from the start, your compliance posture becomes stronger, not just more reactive.
Unlocking value beyond compliance
While the compliance case for upgrading is clear, the benefits extend further. Having a complete view of your fund data enhances the quality and speed of internal reporting, improves response times to client queries and powers more advanced analytics. Rather than just about meeting requirements, you can move faster and work smarter.
For example, with consistent performance and holdings data, firms can generate portfolio summaries more quickly, track trends with greater accuracy and provide clients with richer insights, all without additional data preparation. Furthermore, the same data points are often required across outputs. In practice, this means that sticking to a single supplier with regulatory expertise and robust data management and technology could solve a number of your challenges and facilitate:
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cost-efficiency from reduced margins, workloads, overheads and fees (e.g. for re-publication)
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process rationalisation, transparency, compliance, and speed-to-market
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mitigation of risks arising from inaccurate and inconsistent distribution of data into the market
Data quality is also about trust. When teams know they can rely on the data, they spend less time validating and more time using it. And when clients see consistent, timely information across channels, your credibility grows.
Upgrading is simple and scalable
For existing users of FE fundinfo’s Data Feeds, expanding to the full data set doesn’t mean changing platforms or reworking workflows. It’s the same secure, automated delivery system, just with more of the data you need and fewer of the problems caused by what’s missing.
Your account manager can walk you through your current configuration, identify any data coverage gaps and show you how to close them seamlessly and securely. Whether you’re looking to strengthen compliance reporting, improve operational efficiency or futureproof against regulatory change, this is a straightforward upgrade with immediate benefits.
Talk to your account manager about upgrading to a full data set. Let’s make sure your compliance infrastructure is as complete as your ambitions.