The effect of under reporting was due to the rules and regulations around how trades are reported to the consolidated tape. Those rules changed recently to bring the consolidated tape volume closer to the actual volumes. Misreporting implies malicious intent.
I don't think the term "misreport" implies malice; just that the report be inaccurate.
A temperature sensor that both reports both high and low temperatures is said to misreport the temperature.
I understand your comment, however, if you are saying that it wasn't malicious - it was misreports stemming from decisions about how to implement the rules.
