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RegTek.Solutions, the global provider of trade and transaction reporting solutions, is pleased to announce that it has won ‘Best Compliance and Regulatory Solution’ at Investment Week’s 2018 Fund Services Awards. The award recognises their fully-automated MiFIR control solution, providing continuous reporting accuracy and completeness assurance.
The Fund Services Awards acknowledge and promote excellence in the fund management industry, celebrating companies that offer cutting edge services and solutions. Entrants for each category submitted case studies, which were reviewed by a panel of judges comprising experts involved in the fund services industry.
Brian Lynch, CEO of RegTek.Solutions, commented: “We are very grateful to Investment Week for recognising RegTek.Solutions at this year’s awards. MiFIR marked a turning point for the buy-side as they became subject to the same reporting obligations as the sell-side, but with little prior experience. We’ve worked with many clients in the past year to help them meet the reporting challenge in a sustainable way, balancing risk and cost.”
Commenting on the awards, Julian Marr, Chairman of Investment Week Events, said: "As pressure mounts on asset managers to remain competitive in the face of new tech-driven propositions - all the while shouldering a seemingly ever-expanding compliance burden and, of course, driving down costs - achieving operational efficiency has become crucial to their future."
The winning solution combines Reportable.Trade, an independently developed and maintained reporting eligibility engine, with Reconcile.Trade, a turnkey regulatory reconciliation engine, pre-integrated with leading reporting venues and regulators.
This combined approach allows the client to establish the correct reporting population, comparing expected vs. actual reporting, and identifying any over- and under-reporting, or duplicates. Subsequently, the data is fed into the matching engine, which runs 3-way reconciliation between front office systems, an Approved Reporting Mechanism (ARM) and data provided by a National Competent Authority (NCA), delivering granular field-level accuracy checks and associated workflow capabilities for managing any exceptions through to resolution. Specifically for the buy-side, this solution works as well for assisted or delegated reporting as it does for direct reporting parties.
Lynch added, “Our solutions put control directly in the hands of clients, so that they are able to rapidly identify and troubleshoot reporting errors and omissions, greatly enhancing operational transparency and reducing the risk of a regulatory breach or sanction. Additionally, all of our clients benefit from our perpetual service level agreement to keep up to date with the latest regulatory change. We are committed to carry this forward as we help more firms deal with their reporting challenges.”
