AutoRek

AutoRek is an award winning financial controls software, specialising in automated reconciliations, cash allocations and compliance solutions.

Company Insights

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MiFID II transaction reporting: Are you ready? If not, why not?

22nd November 2017

With 3 January 2018 fast approaching, the shots have been fired by the FCA! Last month, Merrill Lynch was fined £34.5m for failing to report transactions. The bank failed to report 68.5 million exchange traded derivative transactions from February 2014 onwards, in contravention with the European Markets Infrastructure Regulation (EMIR). ...
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Should MiFID II be your New Year’s Resolution?

5th January 2017

There is no doubt that myriad regulatory regimes are competing for your board’s attention for planning and budgetary discussions for the upcoming year. The 2017 and 2018 horizon is filled with key compliance challenges such as the Common Reporting Standard (CRS), European Market Infrastructure Regulation and Fundamental Review of Trading...
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Post-Panama: Why your AEOI frameworks must now be automated, auditable and adaptable

6th May 2016

Hot off the heels of the Panamanian documents leak, 5 EU countries announced last month that they have agreed to exchange beneficial ownership information. France, Germany, Italy, Spain and the UK will now automatically exchange information on the ultimate beneficial owners of companies and trusts. These 5 EU countries are now pushing the...
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CP16/4 Loan-based crowdfunding platforms and client money segregation

2nd February 2016

On 21 January 2016 the FCA issued consultation paper 16/4 (CP 16/4), proposing changes to client money requirements for firms that operate crowd funding platforms. Crowdfunding is a way in which funds can be raised - typically many small amounts are donated or invested by a large number of individuals/businesses/organisations via the internet...
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The Rising Requirement for Robust Regulatory Reporting

5th October 2015

Best-in-class technology offers the complete functionality to automate data management and reconciliation processes, provide enhanced financial and operational control frameworks, and the capability to meet different regulatory reporting requirements – all underpinned by transparency, good governance and a robust audit trail. This week, I...
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Why CRS is much more than global FATCA

14th April 2015

US FATCA repeal attempt At the end of March 2015, the US Senate attempted to submit an amendment to repeal the Foreign Account Tax Compliance Act (FATCA). Not surprisingly the amendment didn’t make it to a vote. A potential end to global tax evasion? Cracking down on tax avoidance and tax evasion is an important issue not just in the...
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PS14/9 – will it truly make a difference to client protection?

12th January 2015

The advent of PS14/9 highlights the FCA’s continued focus on the importance of client protection. PS14/9 mandates that firms must put in place systems and controls that are necessary to meet their obligations to maintain their records and accounts, in a way that ensures their completeness, accuracy and in particular their correspondence to...
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Client Money and Assets Protection - the reason for being in Financial Services and yet...

29th April 2014

The issue It’s a long established principle in Financial Services all over the world that an institution should protect its clients’ assets. You’d think it didn’t even need written down. Yet, the principle appears not to be held so dearly as customers and regulators would hope. As a consequence, a plethora of very...