Service Overview

What is the
client issue?

Regulated firms are required to periodically report certain regulatory filings to their regulators across various jurisdictions. Depending on the complexity of the organisation and particularly its global operations, regulatory filings can be resource intensive, especially as some filing deadlines are challenging to meet. In addition, each regulatory has their own specific regulatory reporting systems, content and frequency requirements which can be confusing and challenging to navigate.

How does
Optima help?

Optima leverages its filing expertise and internal resources to assist clients in meeting their periodic regulatory filing requirements across various jurisdictions. Optima’s regulatory filing framework allows clients to fully outsource the preparation and submission of regulatory filings to Optima, which frees up internal resources as well as minimises the risk of errors. 

Optima helps clients with the following types of regulatory filings:

  • US filings including SEC, CFTC, and FINRA
  • UK FCA filings including AIFM reporting and FCA returns
  • SFC filings including regulator notifications
  • European trade level filings, such as short-selling disclosures and shareholder disclosures under the DTR and Takeover Panel requirements
OVERVIEW
Optima Case Study

Outsourcing filings

One of Optima’s large US based hedge fund clients, which also has a UK subsidiary, is very active in trading equities and frequently enters into positions on the long and short side, which require notification of its positions to regulators.

European short-selling and large shareholding disclosures can be complicated and challenging to adhere to as filing deadlines are on a T+1 basis and filings have to be made to the regulator where the equity is listed.  As such, on any given day, this particular client could have filings due with various regulators for various trades, which was taking up nearly a full day of one of their compliance resources to manage.

Optima was engaged to take on the daily filing process for the client to free up internal compliance resources, but also to remove the key man risk around the compliance resource being out of office.  Optima was set-up on the client’s internal filing detection system and used its bench of resources to complete the daily task of:

  1. Identifying filings as flagged by the client’s system
  2. Verifying the trading activity with portfolio managers, where required, to confirm filings
  3. Preparing the filing on the respective regulatory system
  4. Conducting internal four-eye check of the prepared filing
  5. Submitting the filing
  6. Maintaining a regulatory filing log

As a result of fully outsourcing this daily process to Optima, the client was able to allocate its internal compliance resource effectively and eliminated the key man risk, as well as inexperience of European trade level filing requirements.

CASE
STUDY
Contact Us

info@optima-partners.com

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