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single quote the &&.

echo "/iis_ft_dev_data1/custsys/publish/goldstd/WCC_CUST_GS_NON_TRAN_CTA_DLY.dat" | sed -n 's/.*_\(.*\)\.dat/\1/p'

DLY

echo ' /iis_ft_dev_data1/custsys/publish/goldstd/WCC_CUST_GS_NON_TRAN_CTA_DLY.dat' | awk -F'[_.]' '{print $(NF-1)}'

Assuming that there is only one file per date, that the only dates in filenames in that directory occur in files of interest, and that there aren't other files whose names may sort within the date...

You did it again:
for EMPLOYEE in `/iis_data/source/*.txt`

That is in backticks and should not be.

In the code I actually posted, it was in no brackets, quotes, or ticks whatsoever. It is not...

This will do it for you:
for x in `sed 's/^SUB_DATE = //;s/,/\n/g' test.txt`
do
mv /source_directory/a.$x /target_directory
done

# File test.txt has records like:
SUB_DATE =...

Try:
oldid=1000 newid=2000
sed "s/P_JOBID=${oldid}/P_JOBID=${newid}/g" A.txt > A.new

well if the file doesn't exist return code of grep will non 0 and so it will if file exists but your pattern doesn't exist in file. Meaning the return code of grep -iqw P_BUS_DATE...