Qomply Discusses EMIR Refit Challenges and Rising Costs in Asset Servicing Times
Qomply's Michelle Zak features on the cover of September's edition of Asset Servicing Times discussing how Qomply can help those tackling the EMIR Refit, amid skyrocketing operational and regulatory costs.
"The bottom line is that most firms recognise that regulatory divergence is here to stay...Qomply has seen a distinct increase in the number of firms seeking to outsource their entire transaction reporting operation. My team has worked to provide scalable and affordable solutions for firms of varying sizes. By bringing Quality Assurance and Reconciliation to Qomply’s cloud-based technology, firms remove the need for manual processes, specialist knowledge, and inefficient practices.
With constrained budgets, firms are seeking cost-savings across operations, regulatory reporting and oversight. Some firms are opting for a scalable approach towards outsourcing. First, they may utilise our cloud solutions for just Quality Assurance, then they move towards streamlining processes such as sending trades directly to the regulator themselves, rather than use an intermediary. Then, they may automate the entire process. It really depends upon their transaction volume, in-house capabilities and their strategic plan."
Read more here: Asset Servicing Times, September 2023 Edition
How Qomply can help
Qomply’s Regulatory Reporting Hub combines regulatory expertise with AI, automation and data analytics to deliver scalable, audit-ready reporting intelligence that reduces errors, lowers remediation costs, and minimises operational and regulatory risk.
Covering regimes including MiFIR, EMIR Refit, SFTR, CFTC, CSA, MAS, ASIC and HKMA, Qomply also offers a fully managed service and operates globally from London.
Purpose-built solutions and services for regulatory reporting
Designed to improve accuracy, reduce risk, and support confident transaction reporting.
