Key facts
Are the trades reported accurate?

  • Checks all reportable data fields for accuracy, validity and timeliness
  • Delivers full visibility of reporting quality
  • Identifies over-reporting
  • All reported records are tested for MiFID II reporting
  • All open positions are tested for EMIR trade reporting
  • Easily accommodates high volumes and tailored to each firm’s activities.

What do you get?

  • Regular accuracy testing across all records at a frequency suited to your business — usually monthly or quarterly
  • Full test results within five weeks including detailed management information
  • Full details of reporting records in error to simplify the back-reporting process.

Key Facts
Have the right number of trades been reported? 

  • Tests for reporting completeness
  • Reconciles reportable records against those reported to regulators down to field level
  • Obtains source data from trading systems
  • Pairing and matching
  • Includes reported and non-reported trades
  • Identifies mismatches of data between trading systems and ARM or regulatory data sources. 

What do you get?

  • Periodic advanced reconciliations at a frequency that you require (ie. monthly or quarterly depending on volumes of trades)
  • A summary reconciliation report following each run which includes detailed results including any errors
  • Fully quantified findings.

Key Facts
Has the correct counterparty or client been reported?

  • Executes a range of tests to counterparty and instrument reference data for both accuracy and completeness
  • Full population of reference data is tested for complete mappings to the appropriate identifiers
  • Assesses the use and allocation of internal identifiers
  • Normalises legal name and address
  • Real-time checking of Legal Entity Identifiers (LEI).

What do you get?

  • Summary management report on your data, detailing the risks identified and testing findings
  • Summary information on the shape of your reference data
  • A list of all findings by reference data record providing complete transparency and an audit trail
  • Proposed values for LEIs, BICs and FRNs where these are missing from your data, for your confirmation.

Key Facts
Is the right governance in place?

  • A full governance framework and suite of policy and guidelines documentation
  • Addresses control and governance issues identified in FCA fines for reporting
  • Tailored to your business’s internal arrangements and reporting policies
  • Designed by our CEO Dario Crispini, former head of the FCA’s Transaction Monitoring Unit.

What do you get?

  • Reporting risk and accountability framework tailored to your firm
  • All policy documentation
  • Expertise and support from the Kaizen helpdesk and our regulatory reporting wiki
  • CPD-accredited training on reporting obligations delivered by our subject matter experts.

How does it work?

ReportShield™ is delivered as a managed service with testing and reconciliations taking place at a frequency suited to your business. You can mix and match components to your business needs and the service can also be used to deliver a one-off health check of your regulatory reporting.

The service is tailored to your business requirements which is vital to ensure effective results.

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We can help you effectively identify and manage your regulatory reporting risks to build the confidence of senior management and the regulator.

Contact us