HZ_PERSON_PROFILES: Overlapping Start and End Dates

At our site we noticed that some of the person profile records have overlapping start and end dates. This causes problem in some reports such as adjustment register. The query given below can provide list of all such parties that have overlapping record.

SELECT pp_out.party_id
     , (SELECT account_number
          FROM ar.hz_cust_accounts ca
         WHERE ca.party_id = pp_out.party_id
       ) acct_num
     , ( SELECT pty.party_type || ',' || pty.orig_system_reference
           FROM ar.hz_parties pty
          WHERE pty.party_id = pp_out.party_id
       ) party_type
     , pp_out.person_profile_id
     , pp_out.creation_date
     , pp_out.effective_start_date
     , pp_out.effective_end_date, pp_out.* 
  FROM ar.hz_person_profiles pp_out 
 WHERE pp_out.party_id IN 
       ( SELECT party_id
           FROM ar.hz_person_profiles pp 
          WHERE EXISTS
          ( SELECT 1
              FROM ar.hz_person_profiles pp_in 
             WHERE pp_in.party_id = pp.party_id 
               AND pp_in.person_profile_id <> pp.person_profile_id 
               AND ( pp.effective_start_date 
                       BETWEEN pp_in.effective_start_date
                           AND NVL(pp_in.effective_end_date,SYSDATE+100) OR 
                     NVL(pp.effective_end_date,SYSDATE)
                       BETWEEN pp_in.effective_start_date
                           AND NVL(pp_in.effective_end_date,SYSDATE+100) 
                   ) 
          ) 
       ) 
 ORDER BY pp_out.party_id DESC
     , pp_out.creation_date

This problem was noticed in Oracle application version 11.5.9 and it still exists to some extent in Oracle Application Rel 12.