Benefits of our Investment Firm Regulatory Reporting solution

The European Banking Association (EBA) and the UK Financial Conduct Authority (FCA) have defined a new prudential regime. This is set through the Investment Firm Directive (IFD) and Investment Firm Regulation (IFR) - also known as the Investment Firm Prudential Regime (IFPR) framework in the UK. If you’re an investment firm, the compliance deadline for these new rules and reporting requirements is June 26th 2021 (EU) and January 1st 2022 (UK).

To help MiFiD investment firms meet these requirements OneSumX Regulatory Reporting for Investment Firms offers you a fully automated regulatory reporting solution. It’s based on a structured logical data model that leverages K-factor calculators with reporting capabilities across capital and liquidity requirements. Find out how your teams could save time and improve your systems and processes to adhere to this new prudential regime.


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Scalability and high performance

Java-based components use in-memory processing to deliver power and scale without compromising functionality. The modular design allows your teams to mix and match tactical components as they work toward a strategic, automated solution.

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Transparency and flexibility

The solution is available through SaaS deployment. We take care of platform management, application support and any additional maintenance. If a firm is not ready to switch to cloud-based regulatory reporting, we can deliver on-premises installation.

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Accurate reports in less time

Implement all validation rules specified by the EBA and the FCA. Ensure the integrity of the final submitted reports with easy-to-use features that allow users to validate data for integrity and completeness as well as investigate validation errors and warnings.

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Achieve regulatory compliance

Regulatory Update Service will ensure the solution is up-to-date and compliant in line with regulatory deadlines.

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All you need to know about IFR/IFD and IFPR reporting obligations

IFR/IFD and IFPR impacted MiFID investment firms in the EU as of June 26th 2021 and UK-based firms from January 1st 2022, but they also have distinct sets of rules and reporting obligations.

 

This video looks into the reporting obligations presented by the EBA and the FCA and provides insight for investment firms both in the EU and the UK around upcoming deadlines and how to stay prepared.

FAQs
  • What changes do IFR/IFD and IFPR involve?

    • Own funds, capital requirements and liquidity
    • Changes to the prudential standards for SNI and non-SNI investment firms based on proposed remuneration consultation published by the FCA
    • A risk management framework in place where firms can document their Internal Capital and Risk Assessment (ICARA) to demonstrate compliance of IFPR implementation
    • New measures referred to as K-factors
    • New Risk-to-Customer metrics will require firms to source data that has never before been requested for the purposes of regulatory reporting
    • Proportional criteria is introduced to distinguish between non-systemic firms (Class 2) and small and non-interconnected investment firms (Class 3)
    • Operations and compliance teams will need to work closely with IT, Finance and Risk to ensure that firms are ready to report when the new obligations go live
  • How do I check if my investment firm is impacted?

    Use our quick and easy classification tool to assess what steps your company needs to take and how you will be impacted.
  • What do I need to do before the deadline?

    1. Understand the timelines
    2. Determine your class category
    3. Understand your capital requirements, for example, K-factor calculations
    4. Know your reporting obligations
    5. Project manage
    6. Read more on how to prepare
    7. Get in touch to find out how OneSumX Regulatory Reporting for Investment Firms can help.

OneSumX Regulatory Reporting for Investment Firms solution features

Having multiple legacy products, with inflexible technology support, separated into silos can be a challenge. It means sub-optimal performance, a high total cost of ownership and inefficient maintenance.

OneSumX Regulatory Reporting for Investment Firms is a flexible solution to overcome those challenges and help meet the demands of the new prudential regime.

  • K-factor calculators

    Fast-track data harvesting through our structured data model and integrated K-factor calculators with reporting capabilities.

    Our solution determines if a firm’s available own capital is eligible to be used for prudential purposes by comparing the capital’s attributes to the requirements specified in Articles 9 and 10 of IFR.

    The solution can assess how much capital the firm needs. It implements:

    Risk-to-Client
    • K-AUM (Assets Under Management)
    • K-CMH (Client Money Held)
    • K-ASA (Assets Safeguarded and Administered)
    • K-COH (Client Orders Handled)
    Risk-to-Market
    • K-NPR (Net Position Risk)
    Risk-to-Firm
    • K-TCD (Trading Counterparty Default)
    • K-DTF (Daily Trading Flow)
    • K-CON (Concentration Risk)
    Our solution can also derive your initial capital and permanent capital requirements based on your MiFID permissions.
  • Eligible liquidity assessments

    Determine if the properties of the assets in your “Liquid Asset Buffer” are eligible in accordance with Articles 43-45 of IFR, and from there, assess if you meet the minimum requirements defined in Article 43(1).
  • Regulatory Update Service (RUS)

    If the regulator refines or updates any of the calculations, classifications, reporting templates, validation rules or XBRL taxonomy, our solution will be updated in line with the regulatory deadlines at no extra cost. If a regulatory change requires a new data attribute, Wolters Kluwer OneSumX FRR will notify clients well in advance so they can plan for the changes.
  • Powerful analytics

    Regulatory reporters can attest to the accuracy of the returns and explain movements because of our templates and powerful analytical tools such as trend, variance, drill down, drill up and drill through features. Users are also able to apply manual adjustments that are fully auditable and subject to the four-eyes principles for approval.
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