FundApps and SteelEye have launched RegSensus, a new entity combining regulatory monitoring and reporting with trade and communications surveillance following completion of their merger in September. The business targets two sources of duplicated compliance work: firms rebuilding datasets for separate obligations and interpreting the same regulations independently. Announced on 27 October, the merger aims to reduce duplicated compliance work by connecting investment positions, trading activity and communications with shared regulatory interpretations.
The merger brings together FundApps’ 16 years of regulatory monitoring experience and SteelEye’s nine years in surveillance. FTV Capital backed FundApps in July 2025 and provided additional capital for the merger, announced that November. The combined business serves more than 400 clients based in over 30 countries.
Speaking to RegTech Insight, CEO Frederic Ceyte described two areas where the combined business aims to establish consensus. Within firms, compliance teams need an agreed dataset for reporting and investigations. Across firms, RegSensus brings regulatory specialists and clients together to develop common interpretations of requirements.Combined Capabilities
FundApps applies regulatory rules to investment positions, helping firms identify shareholding disclosure obligations, monitor position limits and prepare filings. SteelEye brings trade and communications surveillance, connecting orders, transactions, messages and market data to support investigations into potential misconduct.
Together, these capabilities cover what a firm holds, how its traders have acted and what they have communicated. Ceyte sees opportunities to connect these datasets across reporting and surveillance, giving compliance teams more context when reviewing activity. “What we’ve seen so far is that compliance breaks in the gaps between those data sets,” he says.
Ceyte describes a client base spanning sell-side and buy-side firms including broker-dealers, asset managers and hedge funds, servicers and energy companies. Clients range from tier-one to tier-three institutions, depending on their needs and investment activities. RegSensus plans to extend FundApps’ shared regulatory interpretation model across the broader offering, drawing on its regulatory specialists and client community.Duplicated Data Work
Ceyte points to the work firms undertake to assemble positions from order management, execution management, trading and fund-accounting systems. Once prepared for a disclosure, the resulting dataset often remains tied to that requirement. Another reporting obligation can prompt teams to reconstruct the same positions from the same sources, sometimes producing different results. Firms repeat the preparation effort and can end up with inconsistent versions of their holdings.
Ceyte recognises that trading, risk and accounting systems each serve their own purposes. Compliance teams must determine which data they trust for reporting and investigations. RegSensus aims to provide a consistent reference across those activities: “A place where they can aggregate and trust the data,” he says.
Regulatory Consensus
RegSensus takes its name from an approach FundApps developed in shareholder disclosure, bringing regulatory specialists and clients together to examine how rules should apply. The company maintains those interpretations within its rules engine and intends to extend the approach across reporting and surveillance.
Felix Blumer, Head of Regulatory, describes client dialogue as central to testing those interpretations: “We have our own regulatory experts, but we don’t develop these interpretations in isolation. They’re validated by our client community, bringing different perspectives and practical experience into the process.” He argues that changing regulatory priorities and diverging requirements across jurisdictions make that shared expertise more valuable. Through its “Trusted Regulatory Standard”, RegSensus aims to reduce the work firms undertake to interpret the same obligations. Clients retain responsibility for their compliance decisions, supported by rules maintained by specialists and scrutinised through use across the client community.
Controlled Automation
RegSensus is applying artificial intelligence (AI) to disclosure investigations and data checks. Its deterministic rules engine applies regulatory requirements, assesses thresholds and identifies reporting obligations. Result Investigation examines changes in rules and position data, bringing together relevant filing history to help users assess a disclosure result. In its launch announcement, RegSensus reported a 25% reduction in disclosure resolution time among clients using the tool.
Blumer draws a boundary around regulatory interpretation: “We see AI as a powerful tool for supporting regulatory compliance but not replacing human judgement. Our role is to give clients the intelligence and evidence they need to make informed decisions, while keeping them in control of the final decision.” he says.
Ceyte sees RegSensus’s competitive strength in combining investment structures and positions with trading and communications evidence, supported by regulatory expertise tested through client use. RegSensus already holds position and trade data that clients use for regulatory submissions. His ambition is for RegSensus to be the central reference source for reporting and investigations.
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