Compliance firm seeks Lombard assistance 24 March 2014 London Reporter: Georgina Lavers
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The firm Compliancy Services has selected Lombard Risk Management to provide their clients with regulatory returns submission services.
Compliancy Services Ltd was formed in 2003 in response to the increase in regulation across the financial services sector, with its sole purpose being to reduce the burden of regulation on its clients.
It chose Lombard Risk’s REPORTER to provide a full EBA Common Reporting (COREP)/XBRL regulatory returns submission service, enhancing its existing Financial Conduct Authority (FCA) and Prudential Regulatory Authority (PRA) regulatory services.?
Iain Stephen, managing partner of Compliancy Services, said: “We are delighted to work with Lombard Risk, who completely understand our specific requirements. We have been able to remove the burden of COREP/XBRL reporting from our clients, whilst providing them with an affordable and reliable method of meeting the EBA regulatory demands. It serves as a natural extension to our existing FCA / PRA regulatory services.”
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Lombard Risk will support Compliancy Services by hosting a cloud-based deployment of REPORTER, which will enable their existing and future clients to report their COREP returns under CRD IV regulations in XBRL format, complete with the full set of EBA validations and provide an archive of their reports.
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