The MIS survey carried out by the Association of Foreign Banks placed Lombard Risk at the top of the supplier table for regulatory reporting systems. This survey, which was sponsored by Oracle, was presented at the AFB Operations Conference in September and feedback indicates that their members are making progress towards meeting the new demands of management and regulators.
James Philips, Director of Regulatory Strategy at Lombard Risk, comments: âRegulations continue to increase, and are not going to disappear. Last year the FSAâs liquidity regulations had to be met and Lombard Risk helped over 30 UK firms meet those with a combination of its integrated stress testing and regulatory reporting solutions: LISA and REPORTER. Institutions in the UK, Europe and internationally are now faced with more liquidity and capital monitoring and reporting under Basel III, including for example the new pan-EU COREP template following CRD IV. Firms that implemented our solution for liquidity requirements will benefit from additional stress tests and reports from us to meet Basel III requirements as they are agreed.
Firms that are struggling to meet last yearâs regulatory demands are going to find it even harder to meet new ones in the coming period, especially as data quality issues make âwhole-firmâ view all the more challenging to achieve.
Furthermore, itâs not just banks and investment firms that are faced with increased regulation - insurance firms have Solvency II to deal with, and broker dealers and other investment firms need to gear up for MiFID 2. Lombard Riskâs REPORTER solution delivers answers to regulatory automation problems, and also meets operational demands for increased straight-through-processing and the elimination of spreadsheets.â