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Regulatory Reporting – 14 to Watch in 2024 – (EU/APAC)

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Growth in the global capital markets is being driven largely by the increasing interconnectedness of global economies. This allows for more cross-border trading activity and the creation of new asset classes and investment strategies. New markets are being created, and access to existing markets is expanding.

Regulatory reporting functions are facing intense pressure as they navigate a labyrinth of requirements across multiple jurisdictions. The stakes have never been higher, with enforcement actions and penalties escalating for non-compliance. This landscape underscores the critical need for advanced technologies and solutions that not only streamline compliance processes but also enhance data accuracy, transparency, and operational efficiency.

This list is taken from our advisory board’s shortlist of nominees and votes for the 2024 A-Team RegTech Insight award for “Best Regulatory Reporting Solution” for Europe (EU), and “Best Regulatory Reporting Solution” for Asia Pacific (APAC).

LSEG Post Trade Regulatory Trade Reporting 

Winner, RegTech Insight: Best Regulatory Reporting Solution (EU 2024)

LSEG Post Trade’s Regulatory Reporting solutions enable companies to reduce their operational and regulatory risk and derive greater value from their reporting through a range of streamlined regulatory reporting, data and analytics solutions.

Trusted by firms in the UK and across Europe, LSEG Regulatory Reporting simplifies compliance with multiple global regulations, including EMIR and MiFID, and delivers significant operational efficiencies that allow firms to free up resources.

Delivered in a single, streamlined package, Regulatory Reporting’s core modules strengthen data accuracy and provide access to data and analytics that enable you to optimise your risk management.

LSEG Regulatory Reporting offers the flexibility to choose the combination of modules that works best for your business – so you not only benefit from the optimal end-to-end reporting experience but also meet your obligations for best practice systems and controls.

https://www.lseg.com/en/post-trade/regulatory-reporting

RegCentric

Winner, RegTech Insight: Best Regulatory Reporting Solution (APAC 2024).

RegCentric reimagines how regulators and the regulated industry exchange information, leveraging cutting-edge technology to create an efficient and safer financial system. The company’s services and solutions take a holistic approach to risk management, regulatory reporting, and data management.

Reg360 is the cloud-native RegCentric reporting platform that leverages its microservices architecture to deliver real-time analytics, automated data management, and comprehensive reporting governance and control.

The reporting hub enables team collaboration, data lifecycle management, integrated data lineage, process controls and traceability for regulatory reporting and enterprise analytics.

Trusted by industry leaders, Reg360 supports firms with 500+ billion AUD Assets and 3+ million members and customers. Our mission is to simplify regulatory processes, reducing risks and costs for our clients.

https://www.regcentric.com/

AQ Metrics 

AQ Metrics offers a unified technology solution for risk, compliance and regulatory reporting. The technology offers a cloud-first infrastructure with global coverage across multiple jurisdictions and 24/7 operation.

The platform offers end-to-end reporting automation with guaranteed automatic data collection and aggregation, with in-built exposure and risk calculations delivering streamlined reporting to regulators.

AQMetrics’ built-in integrations with leading fund administrators, financial institutions, and data providers simplify the regulatory filing process, making regulatory reporting smarter and faster.

Enhance your reporting process with both automated and single-click regulatory XML generation. AQMetrics’ audited workflow supports reporting at scale, doing the heavy lifting for you.

https://aqmetrics.com/solutions/regulatory-reporting/

Clearwater Analytics 

Clearwater Analytics supports any accounting basis including IFRS, GAAP, Statutory, Tax, and others. The system has 15+ audited accounting bases available and can support Nth accounting bases. With an intuitive and user-friendly platform, users can easily customise disclosure reports and other standard balance sheets, income statements, and roll-forward reports.

Clearwater has developed an effective approach to help clients seamlessly migrate to the IFRS 9 accounting standard. Clearwater’s clients can work with their dedicated client services team to develop a plan for comparatives and initial classification and measurements, the two steps to adopting IFRS 9. Clearwater’s solution is equipped with the data management and reporting tools needed to adopt IFRS 9 successfully and offers the flexibility to choose options that are right for your firm.

Clearwater Analytics allows its users to receive automatically generated GASB disclosures. Clearwater creates GASB 31, 40, and 72 reports at the click of a mouse. With an intuitive and user-friendly platform, users can easily customise disclosure reports and other standard balance sheets, income statements, and roll-forward reports.

https://clearwateranalytics.com/

CSS, a Confluence company 

Compliance Solutions Strategies (CSS) from Confluence solves global regulatory challenges with an end-to-end, integrated approach to technology and services that deliver compliance-as-a-service. CSS combines a holistic RegTech platform with regulatory expertise and managed services to cover five critical areas with a single platform: fund reporting, investment monitoring, compliance management, transaction reporting and regulatory book of record.

Confluence Innovation Lab applies large language models (LLM) to solve complex reconciliation challenges, such as the SEC’s Tailored Shareholder Reports (TSR). The new tool, Confluence Unity Rex, mines and pinpoints discrepancies in language and numeric information between financial reports and the TSR, delivering significant efficiency and cost savings in the reconciliation process.

Built on experiences from EMIR and MiFID II, CSS’s multi-regulatory platform seamlessly integrates with source systems, giving financial firms the flexibility to adapt to rapidly changing regulations and requirements from ESMA, Trade Repositories, ARMs, EUNCAs and other global regulators like ASIC, MAS and HKMA.

https://cssregtech.com/

Iris Business Services 

Iris has an extensive record of helping financial firms comply with the XBRL regulatory reporting standard beginning in 2005.

IRIS CARBON®, a SaaS product, was introduced in the US and Europe in 2016 and immediately gained the distinction of being a solution that simplified XBRL conversion and improved reporting quality. The IRIS CARBON® platform has been expanded to provide a disclosure management module that helps companies author compliance and disclosure statements. The solution also facilitates ESG reporting.

IRIS CARBON® offers an XBRL/iXBRL reporting solution that enables companies to submit reports to various regulators globally. These include but are not limited to the US SEC, US FERC, European Union regulatory bodies, UK FCA and HMRC, Irish Revenue, and South Africa’s CIPC.

IRIS CARBON® Disclosure Management solution simplifies your financial and non-financial report creation and authoring procedures by providing you with the most user-friendly and collaborative workflows and processes. Financial and non-financial reporting teams can now access and work on disclosure documents on a single platform.

https://www.iriscarbon.com/

Kaizen

Kaizen ReportShield™ suite of controls combines regulatory expertise and advanced technology to act as a shield against regulatory reporting issues, helping firms to achieve accurate, complete and timely reporting.

Take control of regulatory reporting data quality with Accuracy Testing. Trusted by hundreds of firms worldwide, this automated control suite applies thousands of tests on 100% of reportable trades down to the field level. Available via an easy-to-use dashboard, specialist support is available to ensure clients’ reporting meets the latest standards and best practices.

Regulatory reconciliations are complex and can create additional stress on already over-stretched compliance teams. Kaizen’s end-to-end Advanced Regulatory Reconciliation managed service provides an independent assessment of the completeness of your regulatory reporting to identify under and over-reporting.

Regulatory reporting errors are often a consequence of weak or incomplete control frameworks within investment firms. Our comprehensive governance framework is designed by our regulatory reporting specialists to promote the completeness, accuracy and timeliness of your reporting.

https://www.kaizenreporting.com/

MAP Fintech 

MAP FinTech is a leading award-winning global regulatory technology provider for the financial services industry. It specialises in reporting solutions arising from the requirements of a number of complex and challenging international regulations, such as EMIR, MiFID II/MiFIR, ASIC, MAS, SFTR, FATCA, DAC6, and CRS. MAP FinTech also provides innovative and comprehensive solutions for Best Execution Monitoring, RTS 27/28 reporting, KYC & AML Transaction Monitoring, Trade Surveillance (Market Abuse), and eKYC (Screening, eIDV, Document Authentication).<

MAP FinTech is one of the First providers in Europe to report under the European Market Infrastructure Regulation (EMIR), with billions of transactions successfully reported thus far since February 2014.

The company currently serving over 200 B2B global clients and has been recognised for multiple awards including Best RegTech Reporting Solution at the 2022 Ultimate FinTech Awards and at the RegTech Insight APAC Awards 2022 for our FATCA Reporting solution.

FinTech’s Polaris Reporting Hub manages the complexity of multiple reporting regimes, enhancing and routing data to the competent international mechanisms and/or authorities in the required format.

https://mapfintech.com/

Regnology 

Regnology Reporting Hub digitally transforms regulatory reporting with a holistic view of the client’s entire process enabling efficient management of the client’s operations on a single platform.

The reporting process is automated through a streamlined reporting workflow from report creation to submission. The process passes through 10,000+ validation rules across different jurisdictions and reporting frameworks, with variance analysis and time series analysis that collectively provide smooth communication to the regulator.

Report and team-level views (Kanban) provide a clear, at-a-glance overview of the state of your reporting cycle.

Regnology microservices architecture allows regulatory changes to be implemented quickly and easily. It also enables you to personalise your solution, effectively leverage cloud infrastructure benefits, and embrace digital regulatory reporting, drastically reducing overall compliance costs.

https://www.regnology.net/en/

Regnosys 

Regnosis is a provider of regulatory reporting solutions, known for integrating advanced technologies to streamline compliance and reporting processes.

The company focuses on reducing the complexity and cost associated with regulatory reporting through a low-code platform that leverages two key frameworks: Digital Regulatory Reporting (DRR) and the Common Domain Model (CDM1) from the International Swaps Dealers Association (ISDA).

This enables scalable regulatory change implementations by using a standardised representation of required reportable data and turning trade reporting regulations into unambiguous, human-readable, machine-executable, open-access code for any trade reporting jurisdiction. DRR can be used as core internal reporting logic or to validate an internal (or external) implementation.

https://regnosys.com/solutions/regulatory-reporting/

S&P Global Market Intelligence Cappitech 

Compliance Reporting in a Single Platform

Full reporting for EMIR, MiFID II, SFTR, ASIC, MAS, CFTC and other regimes as well as Best Execution monitoring & Reconciliation – all from one convenient platform.

End-to-end secured automation via an advanced data integration platform provides full-service data mapping, data enrichment, report formatting, trade repository, and approved reporting mechanism submissions and back reporting.

Capturing trade data in any format and normalising it into a single data structure.

A professional services team supports every stage of the onboarding process, which typically takes 6-8 weeks from kick-off to reporting. The same team will provide ongoing support after going live.

The platform is designed with a flexible architecture to handle large amounts of data, complying with multi-jurisdiction transaction reporting obligations, extracting in-depth business insights from your own compliance data as well as using other publicly available data sources.

S&P Global Market Intelligence Cappitech

Traction Fintech 

Traction provides financial and regulatory technology services across Europe, North America and the Asia Pacific. Established in Australia at the beginning of 2015 Traction quickly expanded to the European markets in 2016. With offices in London, Sydney, Cyprus, and Singapore, Traction supports financial firms, brokers, investment managers, banks, and electricity suppliers in complying with their reporting obligations processing millions of reportable transactions each day.

Traction is a delegated service provider and acts as an intermediary between regulated financial firms and licensed Trade Repositories (TR) and/or Approved Reporting Mechanisms (ARM).

The fundamental benefits of using a delegated reporting provider include: relieving the burden on human and internal resources assigned to trade reporting, understanding detailed trade reporting obligations, ensuring the reporting requirements and industry standards are met and staying informed and up to date with any regulatory change.

https://tractionfintech.com/about-traction/

Vermeg International 

Vermeg is a specialised software house covering Banking, Capital Markets, Insurance Markets and Digital Transformation services.

In addition to offering standard software solutions, VERMEG provides tailor-made solutions based on proprietary tools, experience, and business expertise. Its strategy of providing effective and evolving digital solutions is executed with multicultural, social, and environmental considerations and a focus on talent development.

UK/EU regulatory reporting:

  • Bank of England (BoE) / Prudential Regulatory Authority (PRA) calculations and reports
  • Financial Conduct Authority (FCA) returns
  • European Banking Authority Reporting

US and Canadian reporting:

  • Federal Reserve (FED) and Federal Deposit Insurance Corporation (FDIC) reports
  • Regulatory Capital & Liquidity, Concentration Monitoring
  • US Treasury & Bureau of Economic Analysis reports
  • Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC
  • Canadian Office of the Superintendent of Financial Institutions (OSFI) reports
  • Bank of Canada reports
  • Cayman Island Monetary Authority reports

Asia Pacific Region includes:

  • Monetary Authority Singapore reports
  • Hong Kong Monetary Authority reports
  • Australian Prudential Regulation Authority (APRA) reports
  • Reserve Bank India reporting

https://www.vermeg.com/banking-challenge-regulatory-reporting/

Wolters Kluwer

OneSumX for regulatory reporting comprises software and services as a regulatory reporting solution comprising four core capabilities.

Regulatory intelligence and change management are offered as a service with a robust risk engine for regulatory and business risks with embedded business analytics to meet all risk reporting requirements

State-of-the-art technology offers multiple deployment options for our Regulatory Reporting solution. On-premises or SaaS architecture are available and can be integrated with OneSumX for Risk Management.

Our enterprise software-as-as-service provides the secure hosting and support you need to navigate ever-changing regulatory requirements.

OneSumX is engineered to be the regulatory reporting platform for all global jurisdictions.

Wolters Kluwer Reg Reporting

So, there you have it, 14 to watch out for in regulatory reporting developments this year. If you feel your firm should be included in this or any of the other RegTech Insight awards categories, let us know on the form below.

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