Award winning services that help quickly and cost-effectively spot EMIR and MiFIR transaction reporting problems relating to accuracy, completeness and timeliness before they are identified by the regulator.
MiFIR Transaction Reporting plays a fundamental role in market abuse surveillance and EMIR Reporting is important for monitoring systemic risk, therefore regulatory attention on data quality and timeliness is expected to increase.
It’s vital that you are prepared for increased scrutiny in the months ahead.
This is where we can help. ACA’s Regulatory Reporting Monitoring & Assurance (ARRMA) service is a unique blend of technology with specialist consulting oversight, which helps firms quickly identify remedial changes that would otherwise require niche (and often expensive) internal resources that can distract firms from other projects.
Our ARRMA findings reveal that 97% of reports under MIFIR/EMIR contain inaccuracies, and on average each report has 30 separate error types.
While many firms offer reporting technology platforms that create reports or run error analysis, we – uniquely – take this one step further. Our award winning ARRMA solution not only analyses the reports generated by firms or external platforms independently to challenge assumptions built into frameworks - the exceptional extra is the addition of our independent consulting expertise, oversight and assurance that provides pragmatic remediation support.
our ARRMA analysis shows:
of reports under MIFIR/EMIR contain inaccuracies
of reports feature mistakes, on average
error types per report, on average
Take advantage of a complimentary one-time reporting analysis to help identify the percentage of your reports featuring an error.
This complimentary analysis will help you get an independent overview of the health of your reporting framework. It includes a summary report identifying, among other things, the percentage of reports submitted that include an error and the number and type of errors affecting those reports.
ACA’s Regulatory Reporting Monitoring & Assurance service brings you:
Quick and cost-effectively spots transaction reporting problems relating to accuracy, completeness and timeliness before being identified by the regulator and provides insight into how to fix them.
A focus on reporting problems that have slipped through third party or in-house validation checks.
Available on a monthly, quarterly or semi-annual basis to ensure problems can be identified and resolved promptly, with costs determined on a sliding scale to reflect report volumes.
Can be teamed with ComplianceAlpha market abuse surveillance solution to further analyse the findings and detect potential market abuse, making the data even more valuable.
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.
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.
May is Asian and Pacific Islander American Heritage Month, and we are happy to celebrate with the launch of our Asian Pacific Islander Employee Resource Group!
ACA Mirabella are recognised as the hedge funds preferred provider, having once again been presented the title of Best Regulatory Hosting firm at the 2022 HFM European Services Awards. This is the seventh year in a row that ACA Mirabella has taken this title. Learn more about this win here.
New research reveals that confidence among financial services firms in the quality of their own transaction reporting is declining – down to 65% from 87% in 2021. This confirms concerns around inaccurate regulatory reporting leading to fears of undetected market abuse and an inability to monitor for systemic risks.