At a special virtual awards ceremony last night, bringing to a close the 2020 Finance Magnates Virtual Summit, Cappitech won "Best Regtech Reporting Solution" in the 2020 Finance Magnates Awards. These awards recognize the leading firms in the industry that have excelled during the year across 22 categories. Industry peers determine the award winners through a multi-stage voting process.

Ronen Kertis, CEO at Cappitech, commented: “At Cappitech we are driven to deliver a hassle-free, global regulatory reporting solution that ensures complete, accurate and timely reporting; just as the regulator has come to expect.  It’s a real honour to be recognized by the retail and institutional broker reporting community as the leading brand for regulatory reporting and look forward to continuing servicing all those that need a reporting solution of the highest calibre.”

Cappitech has seen tremendous growth during 2020, despite the major shifts in the regulatory reporting space, multiple new regulations and the impact of COVID-19. With a continued focus on building innovative products and technology that helps financial firms fulfil their reporting obligation daily, Cappitech customers also acknowledged the tremendous client support received during this turmoil’s year.

MAR & Market Surveillance

Once again, Cappitech took an active role in this year’s Finance Magnates Summit, with Ron Finberg, Product Specialist at Cappitech moderating the “MAR & Market Surveillance for CFD Brokers” panel. This virtual panel topic was chosen specifically as it tends to get less attention in the CFD Broker industry than other parts of compliance because much of MAR focuses on exchange traded transactions while CFD/FX is OTC. The panel was insightful, thought-provoking and met with enthusiasm.

Below are some of the takeaways from the panel discussion:

• E-communications surveillance is part of MAR and every broker needs to have in place procedures on how their employees are discussing trades between themselves and with clients
• Covid and Work from Home has made it more difficult for compliance officers to watch over trader activities
• Brokers need to monitor for suspicious activity by their clients such as potential insider trading
• Technology and AI is great for surveillance, but it requires humans to adapt it to reduce false negatives
• Panellists thought a ‘day of reckoning’ to the CFD broker sector is coming and regulators will get aggressive in reviewing what MAR plans they have in place
• FX may not fall under MAR in the future, but other forms of FX codes may affect surveillance requirements for FX CFDs