Fixed Income Compliance: Regulatory Reporting | Gresham

Introduction 

Embark on a compelling narrative of regulatory reporting transformation as we explore how a prominent global fixed income broker-dealer conquered the complexities of FINRA TRACE reporting challenges with Gresham’s innovative Connect Solutions. This enlightening case study traces the journey from regulatory turbulence to operational triumph, demonstrating the pivotal role of cutting-edge technology. 

The Challenge: Navigating Regulatory Labyrinth 

The pages of this case study unfold against the backdrop of a major global fixed income broker-dealer grappling with the repercussions of hefty regulatory fines—nearly USD $500,000 worth. These fines stemmed from persistent issues with tardy and inaccurate FINRA TRACE reporting, underscoring the critical need for swift and comprehensive change. 

The Solution: Pioneering Reporting Evolution 

Gresham’s Connect Solutions emerged as the guiding light, steering the broker-dealer towards regulatory compliance and operational efficiency: 

• Converged Visibility: In a dynamic data landscape, Gresham’s solutions acted as a compass, providing a unified view of both source and reported data.
   
• Real-time Reconciliation: The implementation of automated matching and real-time reconciliation shattered the barriers to efficient reporting, culminating in a remarkable 86% reduction in late reporting rates. 
  
  
• End-to-end Compliance: Gresham’s Connect unveiled a holistic transaction reporting and submission ecosystem, meticulously addressing the eligibility, validation, and reconciliation intricacies of TRACE-eligible securities. 
  
  

Results and Benefits 

The partnership between the broker-dealer and Gresham yielded transformative outcomes, rewriting the narrative of regulatory compliance: 

• Insights Illuminated: The once-complex data terrain transformed into a realm of clarity, offering a comprehensive view of both source and reported data within a single solution. 
  
  
• Rapid Restoration: Late reporting rates plummeted by an impressive 86%, underscoring the potency of automated reconciliation and matching. 
  
  
• Seamless Connectivity: Gresham’s Connect Solutions fostered seamless connectivity across partners, clients, and regulators, forging a harmonized path towards streamlined regulatory reporting. 
  
  

Conclusion 

In this profound journey of partnership and innovation, Gresham’s Connect Solutions not only resolved the broker-dealer’s regulatory challenges but catalyzed a paradigm shift in their approach to compliance. Enhanced visibility, operational efficiency, and unwavering regulatory adherence stand as the pillars of the organization’s regulatory reporting prowess. As the pages of this case study come to a close, they usher in an era of renewed operational excellence and regulatory success, shaping the broker-dealer’s future with unwavering promise. 

Discover how this global fixed-income broker dealer, which had incurred regulatory fines totaling almost USD $500,000 due to late or inaccurate FINRA TRACE reporting, achieved accurately and timely transaction reporting and submission through to the regulator.