Aug / 1 / 2022
SOX compliance requires solid reconciliations
The Sarbanes-Oxley Act of 2002 (SOX) is a fundamental piece of US legislation which introduces enhanced financial disclosure for publicly traded companies. It imposes standards for financial reporting to protect investors from false or misleading representation of companies’ ...
read moreJul / 29 / 2022
CASS compliance needs automated reconciliations
The UK Financial Conduct Authority (the FCA) regulates more than 50 thousand financial institutions (brokers, investment banks, custodians) which hold or control client money and custody assets or are involved in debt management. Each of them must make sure to comply with the FCA Client Asset ...
read moreMay / 18 / 2018
GDPR and ReconArt – Our Commitment to Data Privacy
GDPR: What is it all about?
The European Union’s General Data Protection Regulation (GDPR) officially comes into effect on May 25, 2018. The compliance deadline which was a long time coming is now only 1 short week away, and even in the final days, the affected portion of the business world has been buzzing with activities ...
read moreAug / 7 / 2017
Enabling Enterprise-class Security in ReconArt
As designers of a world-class enterprise system, ReconArt has always had significant focus on application security. We have purposefully integrated enterprise security best practices in the application to keep access and data secured, while simultaneously keeping ...
read moreFeb / 9 / 2015
The FCA PS14/9 regulations: Coming, Ready or Not
The United Kingdom’s Financial Conduct Authority (FCA) regulation PS14/9 related to custody assets and client money has a backstop for implementation of 1 June 2015.
Compliance with the rules in the client assets sourcebook (CASS) has never been more important. There is now considerable ‘noise’ from the FCA given the ...
read moreAug / 22 / 2014
Is Your Financial Reporting SEC Compliant?
When you hear those letters, SEC, what comes to mind? To some it's the call sign of a superhero tasked with protecting the American people from fraud and keeping Wall Street accountable. To others it's a dreaded governmental bureaucracy creating endless paperwork and headaches. So although many of us are familiar with the SEC from news headlines, not ...
read moreJul / 30 / 2014
New FCA CASS Rules Require Robust Reconciliation Technology
Far reaching new rules introduced by the United Kingdom’s Financial Conduct Authority (FCA) with respect to customers’ monies and assets have been encompassed under policy statement 14/9 ( ...
read moreFeb / 6 / 2014
How to set up your EMIR OTC Derivatives Portfolio Reconciliation
Risk Mitigation Techniques such as Portfolio Reconciliation for uncleared trades must be applied by firms as described in article 13 of the EMIR regulation. Depending your exact business this can be an easy exercise or a real burden. When you are a non-financial counterparty with 100 or less contracts you have to perform the portfolio reconciliation ...
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