Regulatory technology firm Kaizen Reporting has just announced that it is launching a training service led by the company’s new Senior Regulatory Reporting Specialist, David Nowell. The training will initially focus on MiFIR transaction reporting before expanding to include EMIR trade reporting and the upcoming Securities Financing Transaction Regulation (SFTR).
A former regulator, Nowell has 30 years’ financial services experience. Having previously worked as a transaction reporting technical specialist at the UK FSA, as head of transaction reporting for a tier-1 investment firm and head of compliance for an Approved Reporting Mechanism and Trade Repository, David has a thorough understanding of both the importance and the challenges in meeting regulatory reporting requirements. He also has extensive experience of client training on both MiFIR transaction reporting and EMIR trade reporting.
Dario Crispini
Dario Crispini, CEO of Kaizen, commented:
David is widely seen as a leading authority in the industry. The FCA frequently warns about the risk to institutions of inadequately trained regulatory reporting teams and in many of its warning notices cites a lack of training as a factor in its decision to censure a firm for incorrect reporting. Expanding our services to include training makes sense for us, and we are looking forward to helping our clients improve their knowledge in this space.
David Nowell, Senior Regulatory Reporting Specialist at Kaizen, said:
Training is an integral part of the systems and controls that firms need in place to be reporting accurately. It’s impossible to get your regulatory reporting correct unless you understand the legislation from the Level 1 text down to the regulatory technical standards, guidelines, Q&As and validations. Our new courses are designed to help get our clients up to speed quickly, allowing them to understand what needs to be done to report correctly as soon as possible.
David added:
Ensuring your staff are properly trained on the reporting regulations can save costs in the long run as it will increase a firm’s chances of avoiding regulatory sanctions for incomplete or inaccurate reports and the additional expense of costly back reporting exercises.
The training service includes four-hour classroom-style workshops as well as in-house sessions for financial institutions.