FA Platform for Compliance department

Satisfy your stakeholders with tailor-made compliance processes

The Compliance Department of any financial institution has a hefty and burdensome task delegated to them. It is responsible for identifying, preventing, monitoring, detecting, and resolving any internal or external compliance risks.

With the FA Platform, we enable you to create, modify and classify compliance rules based on your needs directly through the user interface, as well as display or report the results of compliance checks in the Platform. Your pre-trade and post-trade compliance processes are defined based on your needs with the help of our decades of experience. For example, the rules for a Pension Fund are different than the rules for Banks, Asset Managers, and Fund Managers. There is a growing pressure for all to have the right tools to control the business.

FA Solutions’ Compliance breaks down into three distinct categories: Portfolio, Companywide, and Regulatory Compliance features. Below you will find a single feature highlighted from each category.

Portfolios

User-defined limit definitions. Limits allow you to flexibly set up limit definitions or rules your portfolio’s contents should fulfill, and analyze limits to see if any of your limits are breached. For example, a limit can state that holdings emitted by a single issuer should not exceed 35% of your portfolio’s total value – when analyzed, the limit can pass as OK, be breached, or induce a warning. Limits are especially useful for compliance with the UCITS directive for certain funds. However, limits can extensively be used to maintain and follow any kinds of investment limits for various purposes, such as compliance, investment policy, and diversification.

Company-wide

User permissions. Each user has their own user ID and password. Through this, we are able to derive an audit trail and create different user permissions. These permissions define what a user can view, modify, create, delete, or launch within the FA Platform, allowing distinct differences in each user’s experience within the FA Platform. For example, in a larger asset management company, an asset manager can only view their own clients within our Platform. This asset manager’s team can only perform trades or produce reports for the clients that they are allowed to see. All of this can be edited through the user interface by administrative or compliance users.

Regulatory Compliance

The FA Platform is MiFID II, MiFIR, FATCA/CRS, and GDPR compliant, to name a few. The measures we take to comply with each regulation are listed below.

MiFID II

In FA, we have implemented the following MiFID II requirements:

MiFIR - Transaction reporting (TRS2)

See more information about that below in the MiFIR section.

Monitoring - Portfolio/asset value monitoring

This process is used to generate warnings concerning portfolio/asset value drops in excess of 10% since the previous report/warning.

Costs - Ex-post costs and charges

Report showing breakdown of realized costs and charges on the portfolio according to the ESMA classification: One-off charges, Ongoing charges, Transaction charges, Ancillary services, Incidental costs, third-party payments and other costs. Costs and charges are grouped by Investment services, Financial Instruments and Total costs and charges. In addition, the report shows the return of the portfolio (TWR) before and after costs and charges.

MiFIR

Under the revision of MiFID I the regulatory framework expanded to two segments; MiFID II and MiFIR (Markets in Financial Instruments Regulation). Transaction reporting upon MiFIR applies from 3rd of January 2018 and will strengthen the protection of investors by both introducing new requirements and reinforcing existing ones. FA provides a Transaction reporting tool that generates reports to be submitted to the EU Member States National Competent Authorities (NCAs).

FATCA

FA generates a file for reporting FATCA information to the tax office. The Foreign Account Tax Compliance Act (FATCA) is a United States federal law requiring United States persons (including those living outside the U.S.) to have yearly reported themselves and their non-U.S. financial accounts to the Financial Crimes Enforcement Network (FINCEN), and requires all non-U.S. (foreign) financial institutions (FFI's) to search their records for suspected U.S. persons in order to report their assets and identities to the US Treasury.

CRS/DAC2

The General Data Protection Regulation (GDPR)

FA needs to know a contact person and their email address from each client company for official statements regarding GDPR. In the event a breach has occurred that may result in affecting individuals’ rights and freedoms the people affected must be informed without any delay by the client company. FA customers can notify the DPO (Data Protection Office) dpo@fasolutions.com regarding any GDPR concerns. Our DPO will analyse the issue(s) and decide what actions need to be taken immediately. If a security breach does arise, the DPO at FA will immediately inform our customers what information was affected. Notification will be sent through email to the address given by the client company.

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