VERMEG OFFERS UK REGULATORY REPORTING SERVICE FREE OF CHARGE DURING COVID-19 CRISIS

Further to our announcement last week that we would be making the XBRL Checker service available free of charge during the COVID-19 crisis.

VERMEG is now also offering a Cloud Based Regulatory Reporting service free of charge for firms that may need assistance with their reporting in the ongoing situation.

AgileREPORTER Cloud will allow UK firms to create, validate and submit the full range of Statistical, Capital and Liquidity returns using a cloud-based service.

Users are able to create blank return templates in the solution and key in cell values or, alternatively, prepare Excel templates remotely and upload these.

Once data has been keyed or uploaded, end users are presented with the resultant templates in the AgileREPORTER Dashboard which shows the status of each of the Regulatory Returns created and highlights those areas of failure, for example validation errors, that a user will need to address before submitting to the Regulator.

All regulator mandated validations and cross validations are included with the solution and any returns that fail these checks will be highlighted so that a user may prioritise remedial action.

Once errors highlighted on return cells have been investigated and resolved, an output file is produced for submission to the respective regulator.

This service will be offered free of charge until the end of July – at which time we will review the situation in the hope that lives will be returning to normal.

Please contact ukaccountmanagers@vermeg.com for more details and to discuss how to register for AgileREPORTER Cloud.

ANDREW KESBEY
GLOBAL HEAD OF REGULATORY PRODUCT