Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013
Dario Crispini, Kaizen

27338

Consultancy firm Elixirr and Kaizen partner to bring new level of transaction reporting compliance

RELATED TOPICS​

Elixirr is partnering with regulatory reporting assurance specialist Kaizen to deliver a complete end-to-end regulatory reporting remediation service for financial institutions.

The two firms are aiming to offer clients greatly-improved assurance testing, governance and support on their trade and transaction reporting remediation projects.
 
This is a significant milestone in responding to the increasing levels and complexity of regulation faced by the industry. Kaizen is unique in its approach to compliance assurance, checking every single item of transaction data for accuracy and completeness, while Elixirr provides practical and hands-on support to resolve the reporting issues highlighted by the Kaizen assurance assessment.
 
Data quality has been a continual problem under the original MiFID reporting regime, but the increased complexity of EMIR and MiFID II reporting obligations means that this will be even harder to achieve. At the same time, regulators’ capacity to identify issues has widened, and the UK’s Senior Managers’ Regime puts additional pressure on individual managers within firms to ensure they are reporting correctly.
 
Firms which do not fully address reporting issues are at risk of multi-million pound fines, reputational damage, and the cost of internally remediating the problem, which is often significant. In an industry first, Kaizen’s technology solution, combined with Elixirr’s remediation skills, will identify reporting issues quickly and ensure they are resolved and replayed, in a cost-effective, seamless way. 
 
Barry Lewis, Partner at Elixirr who led the formation of the partnership, says: “Kaizen have developed a service that is invaluable to the financial services industry, so we’re delighted to partner with them in such a value-added offering. This partnership means we can combine robust data quality assurance tools with the analysis and remediation expertise of our team, and help our joint clients respond even more effectively to the increasing needs for reporting compliance.”
 
Dario Crispini (pictured), CEO and Founder of Kaizen, says: “I see the partnership as an important step forward in compliance evolution. By combining the skillset and expertise of the two companies we are able to provide clients with greatly enhanced confidence and accuracy when reporting to regulators. Elixirr has a strong reputation, attention to detail and unwavering passion to really help firms succeed and we trust them to provide the best remediation solutions for the companies we work with. The market is already responding well, and I have full confidence that this partnership will quickly benefit our clients and go from strength to strength in the months and years to come.”
 
Recently awarded the Queen’s Award for Enterprise in innovation, one of the UK’s highest business accolades, Kaizen has combined data science with leading regulatory expertise to develop ReportShieldTM, a quality assurance service that provides firms with a complete set of controls to ensure the accuracy, timeliness and completeness of their reporting data. ReportShield tests all of a firm’s records, avoiding the shortcomings of other approaches which test only small data samples.
 
Elixirr has a proven track record of working with financial services firms internationally to help them identify issues and achieve full and sustainable reporting compliance.
 

Latest News

Brown Brothers Harriman & Co has expanded its relationship with AllianceBernstein (AB), by adding to..
The trading and investment platform eToro has extended its proxy voting feature to all stocks..
C8 Technologies, the London-based fintech founded by former BlueCrest Capital Management partners Mattias Eriksson and..

Related Articles

The trend of private equity firms acquiring businesses in the professional services sector continues with CVC Capital Partners eyeing a possible buyout of EY’s Italian consulting branch...
The trend of private equity firms acquiring businesses in the professional services sector continues with CVC Capital Partners eyeing a..
Pension funds
UK defined benefit (DB) pension plan sponsors could have access to GBP 1.2 trillion in surplus assets over the next decade, industry research reveals...
UK defined benefit (DB) pension plan sponsors could have access to GBP 1.2 trillion in surplus assets over the next..
Tim Crawmer, Payden & Rygel
Tim Crawmer and Frasat Shah of Payden & Rygel write that higher yields are attracting more demand from investors. Also, given that equities had a strong year last year, big funds have taken some chips off the table in equities and put them into fixed income...
Tim Crawmer and Frasat Shah of Payden & Rygel write that higher yields are attracting more demand from investors. Also,..
Lady justice
Top marks for the Pensions Regulator (TPR) whose efforts to improve resilience in the UK pension funds’ liability-driven investment (LDI) strategies received glowing commendations from the Bank of England in its March report...
Top marks for the Pensions Regulator (TPR) whose efforts to improve resilience in the UK pension funds’ liability-driven investment (LDI)..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by