FOR IMMEDIATE RELEASE
17 December 2018, London: Leading regulatory reporting firm Kaizen Reporting, developer of the multi-award-winning assurance service, ReportShield™, has rounded off a successful year of exciting expansion, both of its specialist team and its services, consolidating its market-leading reputation. With several influential senior hires, the launch of a tailored, expert-led regulatory reporting training service and numerous prestigious award wins, Kaizen has continued to set itself apart at the forefront of the industry.
Kaizen began the year with a significant partnership with challenger consultancy Elixirr to deliver a complete end-to-end regulatory reporting remediation service for financial institutions, a much-needed partnership for responding to increasing levels of complexity in market regulations.
This was followed with the hiring of two senior staff: the former chair of the ICMA taskforce on SFTR, Jonathan Lee, and the former regulator and EMIR and MiFIR expert, David Nowell. The addition of two highly-respected regulatory veterans further consolidated Kaizen’s position as market leader, bringing clients even greater assurance services for EMIR, MIFID II transaction reporting, Dodd-Frank and SFTR.
Kaizen continued to win awards, and in December ReportShield was named ‘Best New Regulatory Reporting Product’ by the FOW International Awards. It was also one of a select group of companies chosen to exhibit at the fourth annual FIA Innovators Pavilion in Chicago, launched to showcase forward-thinking solutions for the global derivatives market. In addition, Kaizen was listed in the RegTech 100, a global directory of companies providing the most innovative solutions in regulation.
Earlier this month Kaizen announced an expansion of its MiFIR offering, adding APA trade reporting. At the same time Chris Machin, a MiFIR trade reporting specialist, joined Kaizen to head the development of its new service.
Dario Crispini, CEO of Kaizen, commented: “Our successes in 2018 are down to the commitment and innovation of our fantastic team here at Kaizen. We have doubled our client base and increased the staff numbers supporting our clients by a third. We have made even greater strides towards solidifying our position as the leading regulatory assurance provider. It’s not only a testament to our hard work, but also to the value of the service we are delivering to our clients.”
“Our successes in 2018 are down to the commitment and innovation of our fantastic team here at Kaizen”
Ian Rennie, Managing Director of Kaizen, added: “What I think has particularly differentiated this year from previous years is the expertise we have brought on board in the form of Jonathan, David and Chris. We now not only offer an unrivalled service across more regimes but also the specialist expertise from well-known players in this space, bringing even more peace of mind to our clients.”
Dario continued, “Looking ahead to 2019, we will see regulators increasingly focus on the quality of data being reported for MiFID II, EMIR, Dodd-Frank and other G20 regulations. For MiFID II in particular, the UK regulator, the FCA, is already writing to firms to warn them about improving their data quality. We will also see the extension of the SMCR regime which will put further pressure on senior individuals within financial institutions to ensure their reporting is accurate and complete. And now that the regulatory technical standards have been approved, preparation for SFTR reporting will also increasingly demand time and focus from financial institutions. Putting the right controls in place at an early stage will result in compliant and efficient reporting from go-live”
ReportShield is a set of services that help financial firms meet their reporting control obligations and effectively manage their reporting risks. The service includes Kaizen’s award-winning accuracy testing which is unique in its ability to test all reported data, providing firms with full visibility of the quality of their reporting.
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