RegTech Insight Blogs The latest content from across the platform
AQMetrics Launches Self-Service MiFID II Reporting Solution
Dublin-based AQMetrics, a regulatory risk and compliance specialist, this week launched its first fully self-service Software-as-a-Service (SaaS) solution for MiFID II transaction reporting. An extension of the firm’s Approved Reporting Mechanism (ARM) solution, the platform allows firms to sign-up online for transaction reporting, self-manage data from multiple sources, avail of smart-validations with real-time error handling,…
Why Boris’ Stamp Duty Axe is Irrelevant with an EU FTT Just Around the Corner
By Daniel Carpenter, Head of Regulation at Meritsoft (a Cognizant company). The race to become Conservative Party leader, and thus Prime Minister, enters into its final stretch, policy ideas are inevitably being thrown around like confetti. As a classic case in point, Boris Johnson has recently pledged to scrap the UK’s Stamp Duty tax, which…
EMIR and MiFID Transaction Reporting Challenges Continue to Trouble Firms and Regulators
Data quality is proving to be an enduring albatross around the necks of financial institutions that must comply with EU reporting rules under MiFID II and EMIR. A recent disclosure by the European Securities and Markets Authority (ESMA) shows that matching rates remain poor for derivatives transactions reported under the European Markets and Infrastructure Regulation…
FCA Seeks Industry Input on How to Handle Regulatory Data
The UK’s financial watchdog has issued a call to regulated firms to provide feedback on how best to collect and process regulatory data, as part of its plan to replace Gabriel, its main regulatory data collection system. Collecting over 500,000 submissions annually across 120,000 users and 52,000 firms, Gabriel enables regulated market participants to submit…
Refinitiv Partners Appway to Provide Digital Onboarding for Wealth Management and Broker-dealer Clients
Refinitiv has reached a strategic partnership with Appway to integrate the latter’s client onboarding solutions on the Refinitiv BETA Platform, a suite of brokerage capabilities used by many US wealth management and brokerage firms. The integration reflects a growing desire among wealth managers and brokers to automate their services, and will enable financial intermediaries and…
Culture and Internal Company Set-up Prove Problematic in SMCR Implementation
The Senior Managers Certification Regime (SMCR) is a hot and vexing topic, with internal company set-up and culture presenting a significant challenge for many financial services firms as they prepare for the December 9, 2019 deadline by when arrangements for senior managers and certification staff must be in place for all firms and from when…
Pragmatic Innovation is the Key to Success
By Alessandro Tonchia, co-founder and director of Finantix. Delivering innovative Artificial Intelligence (AI)-based technologies to improve business and operational performance is crucial to the future of the wealth management industry. Wealth management advisors are paid a certain amount of basis points on the proviso that they will give a clear view on what is best…
The Case for Effective AML Controls as the FCA Highlights Financial Crime Concerns, Targets Transaction Reporting
Alongside the UK’s Financial Conduct Authority (FCA) Annual Report and Accounts 2018/19 released this week, the regulator also published its Anti-Money Laundering (AML) Annual Report. Part of a wider focus on financial crime (which includes the National Risk Assessment of Money Laundering and Terrorism Financing of November 2017 and an FCA thematic review on capital…
Wolters Kluwer Launches OneSumX SaaS Regulatory Reporting Solution
Wolters Kluwer’s Finance, Risk & Reporting (FRR) business has launched a software-as-a-service (SaaS) Regulatory Reporting solution, marking the first time that the company’s OneSumX regulatory software has been made available on the cloud. The SaaS solution offers the same functionality as the company’s on-premise product, based on the upgraded OneSumX Regulatory Engine technology platform. The…
Building a Powerhouse: How Ireland Became a Regtech Center of Excellence
By David Rochford, Head of Hedge Funds at MUFG Investor Services. Over the past decade, spurred by the financial crisis and ensuing regulatory regimes, Ireland has become a regtech powerhouse. The size of the regtech market is expected to grow to $12.3 billion by 2023, up from USD 4.3 billion in 2018, and Ireland is…