Compliance solutions provider Risk Focus has launched a wholly owned subsidiary company, RegTek, which will be the vehicle for its Report-it suite of compliance solutions for trade and transaction reporting.
RegTek will offer the Report-it suite of applications, which includes Validate.Trade, Reportable.Trade, Load.Trade and the upcoming Reconcile.Trade, as a separate business entity in response to market demand for focused services in the face of increasing regulatory demands.
"We launch with a clear mission—to offer the most flexible, complete and cost-effective solutions for financial institutions seeking to improve the quality, transparency, efficiency and control of their regulatory reporting systems," said Brian Lynch, CEO of RegTek and Risk Focus. "Moving our Report-it business into its own entity will allow us to concentrate on this single-minded mission and our clients will benefit from the focused, specialized resources and assets RegTek has to offer. With major impacts like MiFIR, the EMIR Rewrite, SEC SBSR, and SFTR occurring in the next 24 months, we felt this was the right move at the right time."
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