Developed by our experienced senior compliance experts, RegteQ® empowers our clients to digitally integrate their compliance programme across their entire firm through a single, user-friendly and auditable integrated online compliance solution.
Functionality
Designed to enhance the efficiency and effectiveness of compliance tasks, RegteQ® offers the following solutions:
- Monitoring: The Monitoring module facilitates our ongoing FCA, SEC and CFTC/NFA compliance programmes through a unique multi-flow process between our consultants and clients, that streamlines the compliance monitoring process, the production of monitoring reports and ongoing analytics of regulatory compliance requirements.
- Vault: The Vault module houses over 60 proprietary date-stamped compliance base-template documents that we provide our clients, bespoke to their specific regulatory requirements, as the basis from which to collaboratively personalise their specific compliance templates, relevant to the nuances of their firm. These client-specific templates are then also housed within the Vault for easy centralised access for relevant employees across the firm.
- Submissions: The Submissions module empowers employees to submit Requests, Declarations and Attestation for acknowledgement and/or approval by a firm’s compliance lead/s. The module includes forms relating to personal account dealing, gifts and benefits, outside business activities, financial promotions approval, compliance attestations and SEC Code of Ethics attestations, among others. It also includes an auditable register of all historical submissions for ease of reference by the firm’s compliance lead/s, executive management and other stakeholders.
- e-Learning: The e-Learning module integrates seamlessly with our industry-leading CPD-certified e-Learning system, offering over 20 online training courses across the topics of SMCR (Senior Managers & Certification Regime), FCA Compliance Anti-Money Laundering, Market Abuse, Anti-Bribery and Cyber Security.
- Calendar: The in-built calendar facilitates the tracking of compliance related events and deadlines.
RegteQ® also includes a Monthly Reporting Dashboard for our Regulatory Hosting clients operating as Appointed Representatives on our Advisory Platform. Integrated with the Submissions module, the ‘RQA Dashboard’ delivers an easy and intuitive process for transparent and auditable monthly reporting by our Appointed Representatives.
Once logged in via multi-factor authentication, access to all areas of RegteQ® is strictly and securely controlled based on the level of user profile, ensuring that sensitive documentation is exclusively restricted to those employees in your firm who should have sight of them. Targeted email notifications are sent to users when there is activity on their firm’s account requiring their attention, to timeously advise them of actions required.
Accessibility
RegteQ® is provided as a complimentary service to all our ongoing Compliance Consulting clients and our Regulatory Hosting clients, to streamline their compliance programme.
Regtech FAQs
We developed our RegteQ® platform due to the increasing industry demand for ‘regtech’ solutions. Here’s a summary of what ‘regtech’ is and its growing importance and value to the financial services industry.
What is Regtech?
Regtech, or regulatory technology, utilizes cutting-edge technologies to streamline compliance processes. By automating tasks and providing real-time monitoring, Regtech ensures that companies meet regulatory standards efficiently and accurately.
The Importance of Regtech in the Financial Industry
The financial industry is subject to stringent regulations designed to ensure market integrity, protect investors, and prevent financial crimes. Non-compliance can result in hefty fines and severe reputational damage to financial institutions. Regtech offers a proactive approach to compliance, helping financial firms navigate complex regulatory landscapes with ease by automating compliance tasks, reducing errors, and providing real-time regulatory monitoring throughout.
The Emergence of Regtech
Regtech emerged in the aftermath of the 2008 financial crisis when the need for more efficient compliance solutions became apparent. Initially, it focused on automating simple tasks, but has since evolved into a comprehensive solution for managing all aspects of regulatory compliance.
Current Regtech Trends
Current trends in Regtech include predictive analytics, improved interoperability between systems, and greater transparency in regulatory reporting. Collaboration between regulatory bodies and technology providers is also on the rise, fostering innovation and efficiency.
The Role of Regtech for Compliance Management
Regtech automates compliance management, from documentation to real-time monitoring. This ensures that firms adhere to regulations without manual intervention, reducing the risk of human error.
The Role of Regtech for Reporting and Monitoring
Accurate and timely reporting is essential for regulatory compliance. Regtech tools generate comprehensive reports that meet regulatory standards, providing continuous monitoring to ensure ongoing compliance.
Efficiency and Cost Savings of Regtech
By streamlining compliance processes, Regtech significantly reduces the time and resources needed to manage regulatory requirements, leading to substantial cost savings.
Real-Time Monitoring
Real-time monitoring capabilities allow companies to detect and address compliance issues immediately. This proactive approach helps prevent violations and ensures continuous compliance.
Regtech vs Traditional Compliance Methods
Traditional compliance methods rely heavily on manual processes, which are time-consuming and error-prone. Regtech automates these tasks, making compliance more efficient and accurate. Regtech offers faster processing times, reduced costs, and seamless handling of complex regulatory requirements. It also provides better scalability and flexibility compared to traditional methods.
Benefit of using Regtech for Regulatory Reporting
Automated regulatory reporting is a critical use case of Regtech. These solutions generate accurate reports that show businesses comply with regulatory standards, easing the burden on compliance teams.
