At CSS, creating a strategic approach to regulatory obligations is in our DNA. It’s the very reason the company was created.
The advantages are numerous; investment managers who opt for a strategic response to regulation often choose a vendor partner who can create reporting efficiencies and offer broad expertise. In addition, a strategic response often saves money; our analysis shows the incremental increase in cost associated with a traditional, tactical response that individually handles each regulation is as high as 40 percent.
With successive waves of financial regulation imposing new reporting obligations on financial services firms, it’s time for firms to re-think their approaches. CSS President John Lee and Chief Product Officer Ronan Brennan champion the merits of the strategic response to meeting reporting obligations in a special section published in The Sunday Times. An excerpt:
“Vendor risk is top of mind for regulators, concerned as they are about single points of failure. There are inherent dangers in adopting regulatory compliance solutions in isolation.” Why? Because such an approach makes a single point of failure more likely. “There are a lot of single or dual-product vendors that are de facto the weakest link in your compliance architecture,” says Mr Lee.
The private equity backing that underpins CSS enables it to invest in building out its global platform, while establishing synergies between different solution sets and broadening the markets it covers. “The single vendor offers a tactical solution,” says Mr Lee. “We’re offering a strategic partnership that helps a client identify where it is weakest in delivering on its compliance requirements and enabling it to strengthen those aspects of its approach.”
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CSS frequently publishes blog posts which are written by our team from their observations in the field, at conferences and through experiences with compliance professionals. These posts are designed to further knowledge and share industry best practices. Topics run the gamut, including Form ADV, cybersecurity, MiFID II, position limit monitoring, technology challenges and more. Complete and submit the brief form below to receive notifications when we publish new content.