Compliancy Services Selects Lombard Risk for EBA Common Reporting

London-based Compliancy Services was formed in 2003 to help financial firms shoulder the increase in regulation.

Compliancy Services, the regulatory compliance consultancy, has selected Lombard Risk Management’s cloud-based version of Reporter to enhance its regulatory returns submission services.

The software, deployed by Lombard Risk, will enable clients to report their Common Reporting (COREP) returns under the European Banking Authority (EBA) Capital Requirement Directive IV in the proper XBRL format, including the full set of EBA validations, as well as providing an archive of their reports.

"We have been able to remove the burden of COREP/XBRL reporting for our clients, whilst providing them with an affordable and reliable method of meeting the EBA regulatory demands," says Iain Stephen, managing partner at Compliancy Services. "It serves as a natural extension to our existing Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) regulatory services."

Currently over 200 firms are on the Reporter platform for requirements around capital adequacy, credit, market and operational risk, large exposures, leverage and liquidity risks, and financial and statistical information for calculation, analysis and submission.

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