New York & London, 7 May 2019 – RegTek.Solutions, the global provider of trade and transaction reporting solutions, has been named ‘Best Vendor Solution for Dodd-Frank’ at the 2019 RegTech Insights Awards. This award recognizes the firm’s full reporting platform, which helps firms achieve data quality, completeness, accuracy, and transparency.
Brian Lynch, CEO of RegTek.Solutions, commented: “We are grateful to be recognized by our clients and peers for our continued focus and investment in Dodd-Frank compliance. With this award, what is most exciting is the acknowledgment of the long-term value we bring through our strategic regulatory service-level-agreement. US Swap Reporting is about to undergo major changes with the CFTC rewrite and DTCC re-architecture milestones next year and we look forward to helping our clients meet the regulatory deadline.”
In 2017, the CFTC published a “Roadmap to Achieve High Quality Swaps Data” with a goal to ensure it receives accurate, complete and high quality data on swaps transactions for its regulatory oversight role. The review effectively proposes changes to the reporting rules set out by Part 43, 45, and 49 of Commission Regulations. The implementation of these changes, which will impact the 105 provisionally registered swap dealers, is currently scheduled for April 2020.
“European regulations including EMIR, MiFIR, MMSR and SFTR have monopolised resources in recent years. But firms might want to start paying attention to their US reporting again,” added Brian Lynch. “From what we’ve seen so far, the CFTC regulatory overhaul will be significant and introduce new concepts, new values and a far more extensive set of validations on an expanded set of data fields. With our solutions and expertise, firms can drastically accelerate their analysis and testing, allowing them to focus resources on their core business.”
The A-Team Group’s RegTech Awards are a yearly celebration of leading technology providers creatively helping firms solve regulatory challenges. Entries were evaluated by A-Team’s editorial team and advisory board, with the ultimate winning votes given by end users at financial institutions and members of the Data Management Review and Intelligent Trading Technology communities.
Commenting on the awards, Angela Wilbraham, CEO of A-Team Group, said: “We are delighted that our cross-platform readership of over 20,000 senior technology officers and data specialists clearly rated RegTek.Solutions, as the Best Vendor Solution for Dodd-Frank in a very competitive field. We congratulate them on their prestigious RegTech Insight Award win.”
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