FRSGlobal expands its regulatory reporting software and expertise for securities firms

10 November 2008

FRSGlobal, the only provider of risk and regulatory compliance solutions, with coverage for over 30 countries on a unified platform, today announced the acquisition of regulatory reporting specialist BusinessObjects SECAM+, from Business Objects, an SAP company.

FRSGlobal provides solutions across the retail, corporate and securities sectors, which complements the specialised capabilities of SECAM+ in regulatory reporting for the UK securities industry. The SECAM+ solution enables UK-based investment firms to meet regulatory reporting demands of the Basel Capital Accord, as stipulated by the Financial Services Authority.

The acquisition strengthens FRSGlobal's strategic relationship with SAP, offering FinancialAnalytics as a core part of the SAP BankAnalyzer global solution. FRSGlobal FinancialAnalytics is an SAP-endorsed business solution and complementary to the SAP® Bank Analyzer set of applications for finance and risk management and the SAP NetWeaver® Business Intelligence (SAP NetWeaver BI) component.

SECAM+ customers include some of the largest and most prestigious multi-national financial institutions across Europe, North America and Asia. A considerable amount of research and development is also invested in Japan and Korea. The addition of SECAM+ enables FRSGlobal to supplement its existing regulatory reporting offering as well as providing a variety of strategic benefits – including the acquisition of a specialist firm, high-calibre new clients and a head-start into the Japanese and Korean markets.

The deal represents the second acquisition for FRSGlobal in recent months, following its purchase of IRIS integrated risk management AG – a provider of risk management solutions – in August 2008, which enabled FRSGlobal to introduce the first combined risk and regulatory reporting solution for financial services.

The deal is supported by The Carlyle Group and Kennet Partners, the private equity investors in FRSGlobal.

Steve Husk, CEO, FRSGlobal, commented:

“The acquisition provides us with a number of strategic benefits and underlines our commitment to providing a range of risk and regulatory reporting solutions that are detailed but also broad in scope. SECAM+ is a specialist solution and the expertise they have will only add to the sophistication of our regulatory reporting offering for the securities industry and our associated clients.

"SECAM+ has also produced some particularly interesting investigatory reports for Japan and Korea and we see this as a real opportunity to further establish our presence in these markets. In fact, their offering addresses Japanese and Korean capital adequacy rules, meaning that we are ideally placed to hit the ground running as we target these areas in 2009."

Nicola Hortin, who joins the Product Management team at FRSGlobal, added:

“The addition of SECAM+ to the FRSGlobal portfolio will benefit FRSGlobal customers by enabling them to take advantage of the full breadth of the risk and regulatory offering – an integrated solution across the retail, corporate and securities industries, on a single unified platform."

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