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ARTICLE · 28 MARCH 2023

Account Remediation Brochure

FTI Consulting
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Due to a reliance on legacy systems, outdated programming code and manual processes, normal course of business processing of investment accounts can result in errors to transactions and account balances.

United StatesEmployment and HR
Peter Kay
Peter Kay
Drew M. Sheehan
Drew M. Sheehan
Michael Horoho
Michael Horoho

The Need for Account Remediation

Due to a reliance on legacy systems, outdated programming code and manual processes, normal course of business processing of investment accounts can result in errors to transactions and account balances. Often, these errors require a quantification of impact to each account. Companies need to remediate errors accurately and quickly for reputational and regulatory purposes.

Errors can surface from several sources including customer complaints or questions, internal quality control reviews, external audits, regulator reviews and whistleblowers. Unresolved issues can lead to violations of ERISA or other financial regulations and attract scrutiny and potential investigations from the DOJ, SEC and FINRA.

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