Risk Focus, Inc., the leading provider of control and compliance solutions for regulatory trade and transaction reporting to the global capital markets, today announced it has been shortlisted for the “Best New Technology Product – Reporting” in the prestigious FOW International Awards for 2016. The shortlisting of Risk Focus highlights the increasing importance of regulatory compliance within global financial markets and particularly the need for efficient trade reporting ahead of regulations such as MiFID II.
Brian Lynch, CEO of Risk Focus, commented: “The regulation and compliance sector has now taken centre stage within financial institutions, primarily due to the combined pressure of tight implementation deadlines and potentially severe fines from regulators. The RegTech sector has developed with unusual speed and it is very special for Risk Focus to gain the global recognition and be shortlisted Best New Technology product for our innovations in trade reporting. We work very closely with regulators and are unique in providing financial institutions with an exclusive regulatory trade reporting SLA which assures our clients always stay ahead of regulations.”
With increasing scrutiny and enforcement on banks and other financial institutions for reporting breaches, errors and omissions, firms are under pressure to show that they have the right controls in place. There is a growing need for the Risk Focus trade reporting service, particularly as any under-reporting can attract significant penalties from regulators.