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RIMES RegFocus – the specialist managed service for buy-side compliance officers

RIMES RegFocus – the specialist managed service for buy-side compliance officers

The Market Abuse Regulation (MAR) became effective throughout the European Economic Area on 3 July 2016. MAR aims to increase market integrity and investor confidence while ensuring a single rulebook and level playing field across the EU.

Few would doubt that these are worthy goals but MAR greatly increases the compliance burden—and associated costs-for asset management firms who can no longer simply rely on the control provided by their brokers.

MAR builds on the agenda of the Market Abuse Directive (MAD), which it repeals. But it is wider in scope, covers more financial instruments and includes more trading venues. MAR also extends market manipulation to include attempted manipulation and prohibits abusive behavior regarding benchmarks. In practical terms, MAR presents a significant challenge for the buy-side.

All asset management firms need effective compliance policies and a robust framework to identify and control market abuse. This must:

  • Minimize the risk of receiving but not identifying inside information
  • Monitor ‘wall crossing’ or giving selective access to insider information
  • Use pre-trade controls to reduce the risk of market manipulation and insider trading
  • Conduct post trade surveillance using appropriate systems to monitor and investigate suspicious trades
  • Detect suspicious transactions influencing a benchmark, the price of funds or any derivatives.

MAR compliance requires asset managers to identify, monitor, map and report on a broad range of behaviors. While this is crucial, it is also a major undertaking requiring people, technology and ongoing commitment. Many business processes and supporting systems need to be reviewed, modified and tested.

Although MAR compliance is already a legal requirement for all buy-side firms, it is only one of several regulations that require increased surveillance of behavior. Is there an alternative to a costly in-house project?

RIMES RegFocus

RIMES RegFocus offers a sustainable, cost-effective solution to the many complex challenges of MAR compliance. Our service is designed specifically to reduce the risk of insider dealing and market manipulation in accordance with Reg. EU 596/2014 and ESMA RTS.

With its unique, powerful detection capabilities, RIMES RegFocus is designed to streamline and simplify regulatory compliance for buy-side firms. In practice it is a managed service designed by compliance officers for compliance officers.

RIMES RegFocus sources, captures and maintains all the necessary data elements to facilitate a comprehensive review of all trading activity across related legal entities. By using RIMES RegFocus, a compliance officer can achieve a commanding view of all MAR regulatory obligations and is empowered to act quickly and confidently.

RIMES RegFocus at work

RIMES RegFocus translates regulatory guidelines and rules governing trading conduct into trading alerts to identify potentially abusive trades and orders behavior accurately and early. Using powerful algorithms and analytics, our service monitors and detects behavior across multiple exchanges and asset classes, including EFTs, benchmarks, indices and portfolio rebalancing activities. The service accommodates single order or trade and basket monitoring and can be tailored to suit individual roles and management hierarchies.

Want to find out more?

We are here to answer your questions. Please get in touch to learn more about our regulatory solutions.

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