March 24, 2014 - Lombard Risk Management plc (Lombard Risk), a leading provider of integrated regulatory reporting, compliance and collateral management solutions for the financial services industry, is pleased to announce that Compliancy Services has selected Lombard Risk's cloud-based version of REPORTER to provide their clients with EBA / COREP / XBRL regulatory returns submission services.
Compliancy Services Ltd was formed in 2003 in response to the increase in regulation across the financial services sector. Compliancy Services' sole purpose is to reduce the burden of regulation on its clients and to ensure that regulatory compliance is an activity that contributes, not detracts, from a business. Compliancy Services selected Lombard Risk REPORTER to provide a full EBA Common Reporting (COREP) / XBRL regulatory returns submission service, further enhancing its existing Financial Conduct Authority (FCA) and Prudential Regulatory Authority (PRA) regulatory services.
Iain Stephen, Managing Partner, Compliancy Services Ltd says: "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"
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.
Lombard Risk REPORTER is designed to meet the complete range of EBA's requirements including submission via XBRL, as well as all Bank of England and FCA / PRA regulatory reporting. REPORTER is used by over 200 firms globally, including 60+ for EBA Common Reporting, for requirements in the areas of Capital Adequacy, Credit, Market and Operational Risk, Large Exposures, Leverage and Liquidity risks, and Financial and Statistical Information for calculation, analysis and submission. Its flexible deployment options, continual product investment and industry-leading International Regulatory Information Updates, has ensured Lombard Risk remains No.1 in the UK and US for regulatory reporting.
Robert Markham, Head of Sales, Regulatory Compliance, EMEA, at Lombard Risk says:
"Lombard Risk is pleased to provide Compliancy Services with a robust and flexible regulatory reporting solution to use on behalf of its clients. They join an ever-expanding client base using Lombard Risk REPORTER, and can rest assured that the product will provide a secure reporting mechanism with a comprehensive roadmap for future regulatory developments."
Compliancy Services and Lombard Risk are both members of the Association of Professional Compliance Consultants (APCC) which is the only nationwide association of compliance consultancy firms in the UK. Its members advise firms regulated by the Financial Conduct Authority (FCA) and Prudential Regulatory Authority (PRA) in the UK on all aspects of regulatory compliance.
