ACA Regulatory Reporting Monitoring & Assurance Support (ARRMA)

Award winning services that help quickly and cost-effectively spot EMIR and MiFIR transaction reporting problems relating to accuracy, completeness and timeliness before they are identified by the regulator.

MiFIR Transaction Reporting plays a fundamental role in market abuse surveillance and EMIR Reporting is important for monitoring systemic risk, therefore regulatory attention on data quality and timeliness is expected to increase.

It’s vital that you are prepared for increased scrutiny in the months ahead. 

This is where we can help. ACA’s Regulatory Reporting Monitoring & Assurance (ARRMA) service is a unique blend of technology with specialist consulting oversight, which helps firms quickly identify remedial changes that would otherwise require niche (and often expensive) internal resources that can distract firms from other projects.

Our ARRMA findings reveal that 97% of reports under MIFIR/EMIR contain inaccuracies, and on average each report has 30 separate error types.

While many firms offer reporting technology platforms that create reports or run error analysis, we – uniquely – take this one step further. Our award winning ARRMA solution not only analyses the reports generated by firms or external platforms independently to challenge assumptions built into frameworks - the exceptional extra is the addition of our independent consulting expertise, oversight and assurance that provides pragmatic remediation support.

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ARRMA by the numbers

our ARRMA analysis shows:

Inaccuracies

97%

of reports under MIFIR/EMIR contain inaccuracies

Errors

85%

of reports feature mistakes, on average

Misreporting

30

error types per report, on average

Complimentary ARRMA-lite review

Take advantage of a complimentary one-time reporting analysis to help identify the percentage of your reports featuring an error.

This complimentary analysis will help you get an independent overview of the health of your reporting framework. It includes a summary report identifying, among other things, the percentage of reports submitted that include an error and the number and type of errors affecting those reports.

The benefits to ARRMA

Unrivalled assurance and insight

Many firms offer a platform for submitting transaction reports, or provide machine-generated data analysis, but ARRMA provides completely independent assurance, an additional layer of technical insight and practical, pragmatic support through consulting expertise.

This helps firms not just identify errors but also fully understand why reports are wrong, and how to go about correcting them and preventing reoccurrence.

Meaningful monitoring

ARRMA has identified errors in 97% of firms reviewed, typically across more than 30 unique error types! Many of those errors were hard coded into reporting frameworks of third-party solutions (including ARMs, TRs, OMS / reporting solution providers and delegated reporting agents). Others point to internal issues arising from poor change management, incomplete or imprecise scenario analysis or changing universes of clients, tradable instruments and personnel.

 

Value add

ARRMA can be combined with ACA’s ComplianceAlpha® market abuse surveillance solution to allow for a single data set to be used for both transaction reporting monitoring and market abuse surveillance

In addition, we can provide transaction reporting reviews of systems and controls as well as thematic project support to help make sure your trade and transaction reporting is in line with MiFID/MIFIR and EMIR regulatory requirements.

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Why ARRMA?

ACA’s Regulatory Reporting Monitoring & Assurance service brings you:

Cost and time efficiencies

Quick and cost-effectively spots transaction reporting problems relating to accuracy, completeness and timeliness before being identified by the regulator and provides insight into how to fix them.

Reassurance

A focus on reporting problems that have slipped through third party or in-house validation checks.

Versatility

Available on a monthly, quarterly or semi-annual basis to ensure problems can be identified and resolved promptly, with costs determined on a sliding scale to reflect report volumes.

Enhanced market abuse surveillance

Can be teamed with ComplianceAlpha market abuse surveillance solution to further analyse the findings and detect potential market abuse, making the data even more valuable.

Deep expertise

Our deep expertise in compliance and market surveillance technology can help strengthen your trade and transaction reporting programme, identify potential business and compliance risks, and avoid potential problems arising with key stakeholders, regulators, and current and prospective clients.

Our ARRMA team

Matthew Chapman

Matthew Chapman

Managing Director and Co-Lead, ACA's Regulatory Reporting & Assurance (ARRMA) Service.

Matthew is a Managing Director at ACA, responsible for regulatory implementation projects and co-lead on ACA's Regulatory Reporting & Assurance (ARRMA) Service.

Charlotte Longman

Charlotte Longman

Director and Co-Lead, ACA's Regulatory Reporting & Assurance (ARRMA) Service.

Charlotte Longman is a Director in ACA's UK regulatory compliance team. She specialses in implementation projects and client project delivery programmes in areas such a transaction reporting and market abuse, and is co-lead on ACA's Regulatory Reporting & Assurance (ARRMA) Service.

Headshot of Andrae Young

Andraé Young

Consultant

Andraé is a European based compliance consultant and regulatory reporting subject matter leader.

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On demand webcasts

MiFIR Transaction Reporting: A Practical Guide

Join us on Monday, 19 July at 11:00am BST for a complimentary webcast to mark the forthcoming launch of AIMA’s MiFIR Transaction Reporting Guide that has been developed with the support of ACA Group.

Webcast

EMIR Refit: Reporting Checklist

The most recent phase of the amended European Market Infrastructure Regulation (“EMIR REFIT” or simply “REFIT”) came into effect on 18 June 2020. These latest requirements are designed to simplify a derivatives regime currently seen as burdensome to some market participants, particularly those whose risk profile is unlikely to impact macro stability.

Webcast

News

ACA Group and Foreside to Join Forces

The merger will bring together two of the industry’s most well-respected GRC solutions providers. ACA and Foreside together will be positioned to transform the future of GRC, creating a world-class platform for the financial services industry.

Michael Borts joins ACA Group as the new Chief Technology Officer

Michael Borts has joined the firm as Chief Technology Officer (CTO) to lead ACA’s technology development, vision, and strategy. In his role, he will oversee all product development for ACA’s award-winning ComplianceAlpha® regulatory technology platform and technology enablement at the firm.

ACA Group Acquires Catelas to Create Industry-first 360 Surveillance Offering

The acquisition of Catelas further enhances the holistic surveillance capabilities of ACA’s RegTech platform. Catelas’ patented technology automates the mapping of how people connect and form groups within a firm, isolates collusion risk, and detects high-risk behaviors.