Regulatory reporting has become increasingly complex, with the FCA prioritizing enhanced reporting oversight. Over £130m in fines have already been issued for MiFID and EMIR reporting failures. Prompt error identification reduces compliance risks, regulatory scrutiny, and the cost of re-reporting.
Our award-winning trade and transaction reporting solutions help firms detect and remediate reporting issues efficiently, minimizing regulatory and operational burdens.
Discover how compliant your reports are with a free ARRMA one-time analysis to identify the percentage of your reports with errors.
97% of firms analyzed by ARRMA have reporting errors and many firms remain non-compliant by failing to incorporate Market Data Processor (MDP) data in MiFIR transaction reporting.
Book your free review to assess your reporting framework today.
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 specialist trade and transaction reporting service team has performed numerous EMIR and MiFIR reviews, from high-level control testing to full scope data analysis, logic specification and control design projects.
We provide insights from quantitative ARRMA peer analysis to help you understand how your firm compares to its industry peers. This benchmarking is a valuable addition to your firm’s management body reporting as part of ongoing governance.
With CME winding down Abide, its European regulatory reporting platform, many firms now face a complex, time-critical move to an alternative transaction reporting provider. We explore what this means for affected firms and what's needed to ensure ongoing compliance.
Following on from Market Watch 59, the FCA has just published Market Watch 62 where yet again it is taking aim at the numerous data quality issues seen in MiFIR transaction reports. The FCA’s persistent focus on the topic and the fact that many firms do not appear to be taking on board their observations make it increasingly likely that the FCA’s patience might be wearing thin.
Whilst the FCA’s priorities appear, for the time being, to be on understanding the nature and scale of reporting data errors and how they are addressed, failings under MiFID I moved it to take several high-profile enforcement actions. It is imperative that firms get to grips with their MiFID II transaction reporting processes and data quality checks as soon as possible.
Numerous firms who have undertaken complex, expensive and burdensome projects to build their reporting frameworks have mistaken the light at the end of the implementation tunnel as the end of the MiFID II challenge. Some firms are looking the wrong way down the tunnel, and others might well be watching the FCA enforcement train leaving the station.
With the publication of recent Market Watches in quick succession, the FCA appear to be increasing its focus on this topic in an attempt to improve standards and ensure that the UK has a clean, orderly and transparent market in which participants can trust.
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.
The FCA continues to find serious and voluminous errors in transaction reports submitted under MiFIR article 26. Many firms lack the tools or expertise to identify those errors, and so have a growing problem which could lead to regulatory scrutiny or even enforcement action.
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.
ACA Group Acquires Global Trading Analytics to Offer Clients Leading Transaction Cost Analysis Capabilities
Five ACA Group Leaders Recognized Among the 2&20 Top 100 Most Influential People in the Service Provision for Alternative Investment Firms
ACA Group Recognized as RegTech100 Company for Fifth Consecutive Year