Alpha FMC and Kaizen to provide transaction reporting compliance assurance service

Alpha FMC and Kaizen compliance blog image

Combined proposition will assess governance and control frameworks and identify any gaps in MiFID II transaction reporting obligations.


5 February 2019, London: Alpha FMC the global leader in asset and wealth management consultancy, has teamed up with multi-award-winning Kaizen Reporting, the specialist regulatory reporting firm. The collaboration will comprise a “health check” for specialist wealth managers and smaller asset managers by providing independent transaction reporting assessments. 

The new proposition will see Kaizen’s proprietary testing technology combine with Alpha’s wide-ranging global asset and wealth management expertise to provide independent and expert assurance to wealth and asset managers that their transaction reporting arrangements meet the standards required by MiFID II.

The combined proposition will check the accuracy of all of an institution’s reported data, assess the effectiveness of firms’ governance and control frameworks, and identify any gaps they might have in meeting the regulator’s transaction reporting obligations.

“The proposition is an ideal solution for asset and wealth managers with lower trading volumes who require peace of mind that they are reporting accurately and correctly.” 

The key benefits of the proposition include:

  • Full visibility of the quality of data reported to the regulator, including accuracy testing of all instruments, scenarios and data fields
  • Review of existing transaction reporting governance and oversight framework
  • Independent assessment and recommendations for regulatory compliance
  • Fast execution and outcomes

The proposition comprises a discovery phase, using a detailed questionnaire to cover transaction reporting compliance and the process involved. This is followed by an evaluation phase involving a thorough assessment of the regulatory reporting control and governance framework.

Reporting quality will be checked by Kaizen’s accuracy testing service which assesses all data fields on all reported transactions to provide a complete picture of reporting integrity. Recommendations will then made on whether transaction reporting controls are robust and whether the required level of testing is in place.

Andrew Glessing, Head of Regulation, Compliance and Risk at Alpha FMC said:

“We are delighted to work alongside Kaizen, who are the standard-setters when it comes to reporting assurance. With MiFID II requirements now a year old, this is the perfect time for specialist wealth and asset managers to take stock of their reporting quality and processes. We think this proposition fills a gap in the market by providing firms with market leading assurance tools and expert advice on their transaction reporting arrangements.”

Dario Crispini, CEO of Kaizen, said:

“This is an important milestone in Kaizen’s timeline. By joining forces with Alpha, we are able to offer the wealth and asset management sector a vital snapshot of the quality of its transaction reporting through an all-important health check. I am delighted we are working together.”

“The proposition is an ideal solution for asset and wealth managers with lower trading volumes who require peace of mind that they are reporting accurately and correctly.  We recommend health checks take place periodically for ongoing visibility of reporting quality or in some circumstances, more regular testing may be required


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