Lombard Risk
LSE : LRM

Lombard Risk

November 11, 2011 03:00 ET

Association of Foreign Banks' (AFB) Members Vote Lombard Risk "Lead Supplier of Regulatory Reporting Solutions"

LONDON, ENGLAND--(Marketwire - Nov. 11, 2011) - Lombard Risk Management plc (LSE:LRM) ("Lombard Risk"), a leading provider of integrated collateral management and liquidity, regulatory and MIS reporting solutions for the financial services industry is declared leading supplier by the Association of Foreign Banks (AFB).

The MIS survey carried out by the Association of Foreign Banks placed Lombard Risk at the top of the supplier table for regulatory reporting systems. This survey, which was sponsored by Oracle, was presented at the AFB Operations Conference in September and feedback indicates that their members are making progress towards meeting the new demands of management and regulators. Find out more about the Association of Foreign Banks and download the full report online.

James Philips, Director of Regulatory Strategy at Lombard Risk, comments: "Regulations continue to increase, and are not going to disappear. Last year the FSA's liquidity regulations had to be met and Lombard Risk helped over 30 UK firms meet those with a combination of its integrated stress testing and regulatory reporting solutions: LISA and REPORTER. Institutions in the UK, Europe and internationally are now faced with more liquidity and capital monitoring and reporting under Basel III, including for example the new pan-EU COREP template following CRD IV. Firms that implemented our solution for liquidity requirements will benefit from additional stress tests and reports from us to meet Basel III requirements as they are agreed.

Firms that are struggling to meet last year's regulatory demands are going to find it even harder to meet new ones in the coming period, especially as data quality issues make "whole-firm" view all the more challenging to achieve.

Furthermore, it's not just banks and investment firms that are faced with increased regulation - insurance firms have Solvency II to deal with, and broker dealers and other investment firms need to gear up for MiFID 2. Lombard Risk's REPORTER solution delivers answers to regulatory automation problems, and also meets operational demands for increased straight-through-processing and the elimination of spreadsheets."

The Association of Foreign Banks provides a forum for the sharing of information on industry issues for the mutual benefit of foreign banks operating in and out of the United Kingdom. It provides effective representation to industry, government, regulatory bodies and other peer group associations to ensure the attainment of international best practice.

James Phillips is presenting on Basel III issues faced by banks at the 3rd in the series of Lombard Risk's Business Breakfast Briefings on Thursday 24th November at the British Bankers' Association in London. Full agenda and online registration.

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