Key Facts

Our flagship service tests 100% of reported records for full visibility of your reporting quality

  • Tests all reportable data fields for completeness, validity, accuracy, and timeliness
  • 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 is tailored to each firm’s activities

What do you get?

  • Regular 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

  • Our advanced reconciliations are the most comprehensive in the market as we test the data from the primary booking systems all the way to the submitted regulatory reports
  • Our approach obtains the source data from primary trading systems and converts the data into a clean standardised format
  • We then apply any necessary filters to the data including filters specific to your firm
  • The reportable records are reconciled against those that are reported down to field level
  • Our reconcilations identify under and over reporting and inaccurate reporting such as mismatches of data.

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
  • Fully quantified findings.

Key Facts

  • 40% of transaction reporting errors are related to problems with reference or static data. Robust testing of this data should be a key element of any reporting assurance regime
  • Our reference data testing service executes a range of checks to both counterparty and instrument static data for both accuracy and completeness.
  • The full population of static records is tested for complete mappings to the appropriate identifiers
  • The service also assesses the use and allocation of internal identifiers
  • There is specific testing in place for investment managers and the funds they manage.

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

  • A complete regulatory reporting governance structure designed by a former FCA regulator
  • A full governance framework and suite of policy and guidelines documentation
  • Addresses control and governance issues identified in FCA fines for MiFID reporting
  • Tailored to your business’s internal arrangements and reporting policies
  • Represents the leading thinking on supporting controls for vanilla and more complex trading environments
  • Well received by the FCA

What do you get?

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

How does it work?

ReportShield™ is most effective when 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 which is vital to ensure effective results.

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

Contact us