AutoRek

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

Company Insights

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CASS 2018: The Year of the Dog

13th February 2018

There appears to be a plethora of headlines so far this year with a common theme – 2018 is the year of regtech, fintech, the year of digitisation and technological revamp. According to the Chinese calendar, it is in fact the year of the Dog. The Chinese Horoscope for 2018 predicts that this year, of the Brown Earth Dog, is going to be a good...
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Five factors to improve year end processes

18th January 2018

As with every New Year, January marks a particularly busy month for two sets of professionals: personal trainers and accountants. Gyms are at their busiest at the beginning of each year, packed with people wishing to stick to their New Year’s resolution to lose weight. Accountants, on the other hand, are spending many hours in the office...
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Key ingredients to a Fast Close

18th December 2017

With the end of 2017 fast approaching, many finance professionals might be counting down the days with some degree of dread. Year End is just around the corner – whether you report on the December 31 or later – and with it comes the many long hours accountants will spend going over balance sheets and profit and loss accounts,...
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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...