Compliance Without the Hassle: Automate MAS Rule Rewrite Reporting

Regulatory changes can be complex, but automation can help turn compliance into a more efficient, streamlined process. For example, the Monetary Authority of Singapore (MAS) Rule Rewrite Regulation recently introduced significant updates to trade and valuation reporting, margin reports, and data standardization. As a result, firms now face several key reporting challenges, including:

• Reporting trade and valuations with IOSCO-harmonized Unique Transaction Identifiers (UTIs) instead of internal IDs
• Manually collating Unique Product Identifier (UPI) data
• Manually adding MAS-eligible trades booked without harmonized UTIs and UPIs
• Re-reporting outstanding trades according to the MAS Rule Rewrite Standards
• Lack of recordkeeping for collateral and margin reporting
• No rewrite-enabled connectivity to the Depository Trust and Clearing Corporation (DTCC) for automated MAS reporting

Automating MAS Rule Rewrite Compliance

To address these reporting challenges, the IVP Regulatory Reporting Solution enables full automation and eliminates manual inefficiencies. Key capabilities of the solution include:

• Automation of MAS Rule Rewrite changes, significantly reducing manual intervention
• Integration of prime broker data to acquire harmonized UTIs and UPIs and calculate collateral data for margin reporting
• Data enrichment and mapping to align securities data with MAS reporting requirements
• Automated trade reconciliation reports, combining OMS, prime broker, collateral, and warehouse data for complete transparency
• Seamless DTCC integration, ensuring trade and margin acceptance notifications reach decision-makers instantly

The Impact of Automation

With the IVP Regulatory Reporting Solution, firms can experience significant improvements in compliance and operational efficiency, including:

• Enhanced data accuracy: Automation reduces errors associated with manual data handling, ensuring compliance reports meet MAS requirements with precision
• Greater operational efficiency: By eliminating labor-intensive processes, the solution allows teams to focus on higher-value tasks instead of data collection and reporting
• Improved transparency and auditability: Comprehensive audit trails provide visibility into regulatory updates, enhancing compliance oversight and governance
• Seamless integration across data sources: Multiple reporting systems are harmonized, reducing discrepancies and ensuring consistency in data submissions

Additional capabilities include:

• Automated alerts and notifications that keep stakeholders informed of trade and margin reporting status
• On-the-fly data validation and enrichment that minimize re-reporting and regulatory discrepancies
• Simplified report structuring that improves readability and usability while ensuring compliance with MAS standards

Future-Proof Regulatory Reporting

Automating regulatory compliance has transformed the laborious and intricate process of adhering to the MAS Rule Rewrite into a streamlined, transparent, and precise workflow. Implementing a scalable, automated reporting solution allows firms to not only stay compliant with current MAS regulations but also adapt effortlessly to future regulatory changes.

Learn more about how IVP Regulatory Reporting can help optimize regulatory reporting or contact us at sales@ivp.in