Regulatory Reporting Services

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Regulatory Reporting Services

Regulatory reporting is critical to investment firms and may require extensive efforts from various departments within an entity including risk, finance, and IT. The high level of manual processes required and the complexity of regulatory reporting may prove frustrating for many investment firms.

Our experts have hands on experience allowing us to work with investment firms by assisting in identifying data requirements and data sources further providing the required reporting. Our team together with our vendor partners provide automated solutions to manage data extractions, data aggregation and data checks to produce files which are ready for submission.

AIFMD Annex IV and Annex V reporting

Fund Managers managing an EU alternative investment fund are generally subject to the Alternative Investment Fund Managers Directive (AIFMD) which is designed to enhance transparency whilst protect investors.

Annex IV and Annex V of the AIFMD requires for all authorised fund managers under such regime to report transparency information on their funds to their local regulators for each country to which they market. Reporting requirements differ by jurisdiction and fund nature and are  significantly time burdensome.

The consequences of late or incorrect reporting may be serious for investment managers. As a leading risk and compliance service provider, ZASMalta is able to assist in determining your level of reporting obligations and in turn prepare Annex IV and Annex V regulatory reports which are ready for submission.

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RMICAAP/ICARA Preparation

The RMICAAP requirements in Malta focus on firms’ capital adequacy requirements on the basis of the current and future risk exposures of their business. Investment Firms licensed in the European Union are required to carry out and keep on record an ICAAP which is subject to regulatory scrutiny under the Supervisory Review and Evaluation Process (SREP) of the respective regulator. The recently published IFD introduces the concept of the Internal Capital and Risk Assessment (“ICARA”) process. The ICARA is similar in some respects to the current RMICAAP, though does include key differences. The new ICARA requirements will be enforced as from 26 June 2021.

 

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ZASMalta has collaborated with a renown UK service provider to assist you with a range of solutions designed to meet your needs.  These include:

  • Undertaking an Impact Assessment to help you understand how the new regime impacts your firm. This includes categorisation, capital requirements and resources, liquidity requirement and resources, group consolidation rules, regulatory reporting, ICARA process and public disclosure;
  • Regulatory Reporting preparation of on-going reporting requirements allowing you to focus on the core business;
  • ICARA process annual assistance to ascertain that the level of capital required adequately addresses future and current risks in the business as required for all investment firms to conduct and document.

COREP Reporting

Common Reporting (COREP) is a standardised reporting framework which has been implemented across the EU as part of CRD IV. Its aim is that of standardising reporting of capital requirements and additional prudential regulatory information by credit institutions and regulated investment firms.

COREP covers reporting requirements of market risk, credit risk, operational risk and capital adequacy ratios. These COREP requirements are directed towards Investment Services Licence Holders which qualify as investment firms under MiFID.

ZASMalta can assist by:

  • Ensuring that your COREP reports are accurately, timely and properly filed
  • Identify any potential future breaches
  • Assist on the best way to avoid such breaches
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IFR/IFD Reporting

By the 26th of June 2021, MiFID licensed investment firms operating in Europe are required to implement IFR in accordance with their designated category. IFR reporting will include categorisation, new data reporting and collection, capital calculation requirements and potentially more frequent reporting.

ZASMalta can guide you through the IFR reporting requirements applicable to you and assist you in compiling and filing such reporting accordingly.

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