Meeting Canada transaction reporting rewrite and SEC 10c-1a, regulatory changes with Cappitech consulting

Cappitech Consulting, with its specialized expertise in regulatory compliance and technology infrastructure alignment, offers invaluable support to firms facing regulatory changes. Our Consultants will take ownership of your challenges, and ensure that firms meet the regulatory demands of both the Canada Transaction Reporting Rewrite and SEC 10c-1a, with a focus on compliance, operational efficiency, and cost-effectiveness.

1. Health Assessment:

• By leveraging Cappitech's Consulting services, firms can undergo a comprehensive Health Assessment to establish a robust foundation upon which to implement the upcoming regulatory changes.
• Our consultants will conduct gap analyses of current Canada reporting processes against existing rules, review distinct error types, identify root causes, and create remediation plans to correct all issues prior to the new errors and omissions rule coming into force.
• These evaluations provide headline findings on the current process, risk and control environment, deeper analysis, and actionable recommendations for comprehensive remediation including a comprehensive review of policies and procedures.
• Similarly for SEC 10c-1a our gap assessments help firms to identify discrepancies between their current SFTR reporting processes, or their existing reporting platform, and the new FINRA requirements.

1. Implementation:

• Our consultants provide the regulatory expertise and key Business and Technical analysis functions that firms require to implement the upcoming NA regulatory changes.
• Business-critical activities include disseminating regulatory interpretations, and tailored impact analyses for your specific trade flows.
• Alongside this, technical activities include preparing your infrastructure by organizing and standardizing workflows across source and static data systems.
• Analysis for the Canada Rewrite will address the NOA divergence by determining which Canada Rewrite reportable fields differ from NOA and assessing separate Canada reportable messages.
• For both regulations, comprehensive functional analysis will follow through gap analyses between the current and new technical specifications, mapping of source data to reportable fields and field interpretation.

1. Testing and Go-Live Support:

• As part of the preparation for SEC 10c-1a and Canada reporting golive, Cappitech Consulting provides testing support tailored to each firm's specific needs.
• From designing test scripts to executing UAT and creating go-live run books, Cappitech ensures a seamless transition to the new reporting standards.
• Our teams will continue working with firms after go-live to ensure reporting is fully compliant - addressing Production queries and providing ongoing support, helping firms to swiftly resolve any issues that arise.
• Critically we will ensure that firms' Control Frameworks are fully established and robust, with strong internal controls and monitoring processes to industry-leading standards through your transition to BAU.

By leveraging Cappitech's Consulting expertise, firms can optimize their reporting processes, reduce the burden of compliance, and ensure a smooth transition to the new regulatory landscape. Cappitech's strategic support, from health checks to gap analyses, helps firms proactively address challenges and meet the rigorous demands of SEC 10c-1a and the Canada Transaction Reporting Rewrite.

S&P Global provides industry-leading data, software and technology platforms and managed services to tackle some of the most difficult challenges in financial markets. We help our customers better understand complicated markets, reduce risk, operate more efficiently and comply with financial regulation.

This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.