Join us on Monday, 19 July at 11:00am BST for a complimentary webcast to mark the forthcoming launch of AIMA’s MiFIR Transaction Reporting Guide that has been developed with the support of ACA Group.
ACA Regulatory Reporting Monitoring & Assurance Support (ARRMA)
Award winning services that help quickly and cost-effectively spot and remediate EMIR and MiFIR transaction reporting problems relating to accuracy, completeness and timeliness before they are identified by the regulator.
MiFIR Transaction Reporting plays a fundamental role in market abuse surveillance and EMIR Reporting is important for monitoring systemic risk, therefore regulatory attention on data quality and timeliness is expected to increase.
It’s vital that you are prepared for increased scrutiny in the months ahead.
This is where we can help. ACA’s Regulatory Reporting Monitoring & Assurance (ARRMA) service is a unique blend of technology with specialist consulting oversight, which helps firms quickly identify remedial changes that would otherwise require niche (and often expensive) internal resources that can distract firms from other projects.
Our ARRMA findings reveal that 97% of reports under MIFIR/EMIR contain inaccuracies, and on average each report has 30 separate error types.
While many firms offer reporting technology platforms that create reports or run error analysis, we – uniquely – take this one step further. Our award-winning ARRMA solution not only analyses the reports generated by firms or external platforms independently to challenge assumptions built into frameworks - the exceptional extra is the addition of our independent consulting expertise, oversight, and assurance that provides pragmatic remediation support.
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ARRMA by the numbers
our ARRMA analysis shows:
of reports under MIFIR/EMIR contain inaccuracies
of reports feature mistakes, on average
error types per report, on average
Book a free transaction reporting review
Take advantage of a complimentary one-time reporting analysis to help identify the percentage of your reports featuring an error.
This complimentary analysis will help you get an independent overview of the health of your reporting framework. It includes a summary report identifying, among other things, the percentage of reports submitted that include an error and the number and type of errors affecting those reports.
Case Study: Leading hedge fund with an AUM of £15B+
Reviewing how ACA’s Regulatory Reporting Monitoring & Assurance (ARRMA) advisory and tech solution helped one of Europe’s leading alternative asset management firms fund identify, resolve, remediate, and prevent future MiFIR transaction reporting errors.
“The ARRMA team are absolutely outstanding. They were able to quickly understand our position, objectives and priorities and guide us through a difficult project. I have never worked with professional advisors who would be so reliable, responsive, proactive and flexible.”
Case Study: Global Investment Manager, $10B+ AUM
Examining how ACA's transaction reporting team and ARRMA services helped a global investment firm to identify several areas where improvements could be made, creating a usable roadmap for compliance with transaction reporting, as their firm grows into a multiple new asset classes.
“…the attention to detail and application of the ARRMA’s team’s knowledge and experience, allowed us to identify several areas where improvements could be made. We were also left with a usable roadmap for compliance with transaction reporting, as our firm grows into a multiple new asset classes…”
Case Study: Russell Investments Selects ACA Group’s ARRMA Service to Enhance Regulatory Reporting
Exploring how a leading global investment solutions firm opted to work with ACA’s ARRMA (ACA Regulatory Reporting Monitoring & Assurance) service to help manage its MiFIR and EMIR transaction reporting arrangements.
“What ARRMA provides is completely independent assurance, with an additional layer of technical insight and practical, pragmatic support through consulting expertise. We are delighted with the service ACA provides and we believe they will help improve the efficiency of our reporting processes over time.”
The benefits to ARRMA
Many firms offer a platform for submitting transaction reports, or provide machine-generated data analysis, but ARRMA provides completely independent assurance, an additional layer of technical insight and practical, pragmatic support through consulting expertise.
This helps firms not just identify errors but also fully understand why reports are wrong, and how to go about correcting them and preventing reoccurrence.
ARRMA has identified errors in 97% of firms reviewed, typically across more than 30 unique error types! Many of those errors were hard coded into reporting frameworks of third-party solutions (including ARMs, TRs, OMS / reporting solution providers and delegated reporting agents). Others point to internal issues arising from poor change management, incomplete or imprecise scenario analysis or changing universes of clients, tradable instruments and personnel.
ARRMA can be combined with ACA’s ComplianceAlpha® market abuse surveillance solution to allow for a single data set to be used for both transaction reporting monitoring and market abuse surveillance
In addition, we can provide transaction reporting reviews of systems and controls as well as thematic project support to help make sure your trade and transaction reporting is in line with MiFID/MIFIR and EMIR regulatory requirements.
ACA’s Regulatory Reporting Monitoring & Assurance service brings you:
Cost and time efficiencies
Quick and cost-effectively spots transaction reporting problems relating to accuracy, completeness and timeliness before being identified by the regulator and provides insight into how to fix them.
A focus on reporting problems that have slipped through third party or in-house validation checks.
Available on a monthly, quarterly or semi-annual basis to ensure problems can be identified and resolved promptly, with costs determined on a sliding scale to reflect report volumes.
Enhanced market abuse surveillance
Can be teamed with ComplianceAlpha market abuse surveillance solution to further analyse the findings and detect potential market abuse, making the data even more valuable.
Our deep expertise in compliance and market surveillance technology can help strengthen your trade and transaction reporting programme, identify potential business and compliance risks, and avoid potential problems arising with key stakeholders, regulators, and current and prospective clients.
Our ARRMA team
On demand webcasts
The FCA continues to find serious and voluminous errors in transaction reports submitted under MiFIR article 26. Many firms lack the tools or expertise to identify those errors, and so have a growing problem which could lead to regulatory scrutiny or even enforcement action.
The most recent phase of the amended European Market Infrastructure Regulation (“EMIR REFIT” or simply “REFIT”) came into effect on 18 June 2020. These latest requirements are designed to simplify a derivatives regime currently seen as burdensome to some market participants, particularly those whose risk profile is unlikely to impact macro stability.
Introducing ACA Vantage for ESG; a straightforward and comprehensive solution to track and analyze ESG data, and support PE, private credit, and leveraged loan portfolios.
ACA Group (ACA) is honored to be recognized by the exchange-traded fund (ETF) industry for two awards during the 2023 ETF Express U.S. Awards.
ACA released two new solutions aimed at helping private fund managers worldwide comply with the recently adopted SEC Private Fund Adviser Rules.