Source: STB Systems
STB Systems, a leading compliance software specialist, is providing enhanced automated reporting to the FSA. JIL will complete the implementation of STB-Reporter to provide automated reporting to the Financial Services Authority over the next few months.
STB-Reporter supports regulatory reporting to the Financial Services Authority for companies formerly lead regulated by the Securities and Futures Authority. STB-Reporter utilises data held within STB-SuperConsolidator and will output position, foreign exchange and counterparty risk capital resources requirements as well as large exposure and credit exposure reports and other important mandatory FSA schedules including balance sheet, profit and loss reports to the Financial Services Authority.
Complete return and cross-return validation is catered for and provision to adjust any mismatches. Fully audited outputs are included so all figures may be output electronically for direct dispatch to the FSA.
Commenting on the agreement, Michael Thomas, Group CEO, STB Systems, said, "We welcome JIL to the growing number of STB clients and are delighted that JIL have selected STB-Reporter. Given STB's guarantee to provide any and all changes or new returns that the FSA may introduce at no additional software costs, STB's solution is proving to be the ideal choice across the entire financial sector. The data held within STB-SuperConsolidator may be used for further projects as JIL continue to enhance systems and controls throughout their organisation. We look forward to a long & mutually beneficial relationship with JIL."