ARROW & BALANCE-SHEET PROCEDURE WORKFLOW

London - 25 March 2008

The CEO of Peach, a compliance, risk and change management company in the UK, today announced the release of its unique ARROW/Balance-sheet Procedure Workflow (ABPW) framework for the FSA’s ARROW requirements.

But what is ARROW?

ARROW stands for; Advanced, Risk-Responsive, Operating frameWork.

It is the FSA’s risk-based approach to regulation, being the risk-assessment work that the FSA conducts in firms. ARROW is applied to determine the risks a firm poses to the FSA’s four statutory objectives, namely:
• Maintain market confidence
• Maintain consumer protection
• Promote public awareness
• Reduce incidence of financial crime

With the latest spate financial scandals in the UK, one could add a fifth objective for ARROW:
ARROW’s added objective is to enhance foresight and early warning system of pending financial mishaps with diligent, proactive, and preventative approach to avert financial disasters.

According to The Times Newspaper 3 Mar. 2008:
The UK Treasury Select Committee called on the FSA to deliver a "clear message" over potential problems to boardrooms.
Banks' use of off-balance sheet "special purpose vehicles" to sell on loans was criticized as MPs as a "smokescreen" because of their less onerous regulatory requirements. But Mr McFall (Chairman of the Select Committee) also blamed corporate investors for "throwing caution to the wind" in buying products they did not understand before the financial turmoil struck. “Unfortunately, you cannot regulate against stupidity,” he said.

Peach’s ARROW solution ABPW will help banks and financial services’ firms not only in the UK but also in the US, Canada, Australia, and elsewhere in the world to avert financial disasters by exercising a more diligent scrutiny on their loan and risk assessment operations.
It would also help these financial institutions to comply with on/off balance sheet reporting requirements of IFRS (Intl. Financial Reporting Standards).

Both ARROW and IFRS implementation will be affected by and will affect Sarbanes-Oxley Act, MiFID (Markets in Financial Instruments Directive), Solvency II, Basel II Accord, Asset & Liability Management (ALM), Anti-Money Laundering (AML), and other related frameworks.

Instead of working in silos, ABPW and other Peach solutions help auditors, compliance officers, banks, financial institutions and solution providers to cross reference compliance mandates for overlaps and conflicts and strengthen effective risk management.

ABPW and other solution of Peach are based on Dr Abe Abrahami’s 34 year-experience and know-how that have helped blue chip companies and government agencies to save or increase revenue by an estimated $300 million US dollars.

Peach solutions also incorporate essentials from Dr Abrahami’s book on Compliance & Change Management.

The Institute of Management Specialists and ANSTED University accredit and validate Peach’s best-practice, proven and successful techniques and training courses.

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