RegTek.Solutions shortlisted for Best Compliance & RegTech Solution at FTF News Technology Innovation Awards – RTS
26 February 2019, London & New York: RegTek.Solutions,
Voting has began and will close on April 12th. Please support us by voting for RegTek.Solutions in Category 8 & 21: https://www.ftfnews.com/voting?return_to=22865
RegTek’s nomination for ‘Best Compliance Solution’ recognises
the firm’s recent implementation of a total assurance framework at the US
Capital Markets division of a Global Bank. Following an NFA examination, gaps
in the client’s trade and transaction reporting controls were identified. The
bank, like many other firms, had the oversight of its reporting processes
rooted in manual processes and ad-hoc spreadsheets. A remediation plan was to
be presented within a short time frame. Following an initial review of the
client’s transaction reporting workflow, RegTek implemented its full suite of
controls securely on the Amazon Web Services (AWS) Cloud for swift
time-to-value. This allows the firm to perform daily independent checks of its
data for completeness (Reportable.Trade), accuracy (Reconcile.Trade),
and quality (Validate.Trade), in full transparency.
“We are honoured to have made it as finalists; this award
nomination is a great acknowledgement of our team’s hard work and dedication in
helping clients solve their regulatory challenges sustainably, but also of our
strategy to put controls directly in the hands of reporting firms,” commented
Brian Lynch, Co-Founder and CEO of RegTek.Solutions. “While most of the
reporting focus has been in Europe, we have seen activity in the US pick up against
a strict regulatory enforcement backdrop. RegTek has been helping firms meet
their CFTC reporting obligations since its inception, and we are committed to
making the CFTC 2.0 rules a priority. This will surely be one for our clients.”
The second nomination, for ‘Best RegTech Solution’,
acknowledges a strategic partnership between RegTek.Solutions and Deutsche Börse.
In October 2018, the firms teamed up to deliver a pre-validation service for
regulatory reporting: a certified instance of the firm’s leading validation engine
Validate.Trade. The service is available to the 2,300 clients of Deutsche
Börse’s Approved Reporting Mechanism (ARM), the Regulatory Reporting Hub. Currently
available for MiFIR, the offering allows reporting firms to remediate any data
quality exceptions even earlier in the life cycle of the transactions, before
the oversight of the regulators.
The FTF News Technology Innovation Awards are organised by
FTF News, a leading provider of news focused on trends and initiatives around
financial services and technology. The yearly event celebrates and recognizes
the professionals, financial technology vendors, service providers, industry
bodies and regulators that have made significant strides and noteworthy
achievements in operational excellence during 2018.
To find out more
about our intelligent reporting controls, please contact us on [email protected]