Japanese financial services firm Mitsubishi UFJ Financial Group (MUFG) has reached an agreement to deploy Global Shareholding Disclosures solution of AxiomSL, a provider of risk and regulatory reporting solutions.
Under the terms of the agreement, AxiomSL will offer its cloud-based, automated daily position monitoring and reporting solutions to enable MUFG address its shareholding disclosure requirements across the world.
MUFG will execute the Global Shareholding Disclosures solution on AxiomSL’s RegCloud, which enables MUFG to integrate reporting across its global entity structure.
Most of the regulators require market participants to make specific disclosures when they obtain shareholding in security, invest in sensitive industry, or involve in a takeover transaction, or short deal.
The regulatory authorities impose the shareholding monitoring and disclosure requirements with its own distinction, creating a compliance challenge for financial institutions.
Global Shareholding Disclosures solution automates the process of monitoring and reporting
AxiomSL claimed that its Global Shareholding Disclosures solution would automate the process of monitoring and reporting threshold breaches, and enables companies to standardise the processes.
The solution is said to enable financial institutions to benefit from the company’s ControllerView data management platform for risk and regulatory data and reporting requirements, and delivers user-focused dashboards for desk-level monitoring of equity thresholds.
Also, the solution works by a data harmonisation approach that enables MUFG to implement a consistent framework for aggregating and disaggregating equity holdings.
AxiomSL provides risk analytics, data-management, regulatory-reporting, liquidity, capital and credit, operations, trade and transactions, and tax analytics solutions, by combining its industry experience and intelligent data-management platform.
AxiomSL global shareholding disclosures global product manager Gaurav Chandra said: “As one of the world’s largest banking institutions with equity investments globally, MUFG is a prime example of the type of firm that will benefit enormously by automating its shareholding monitoring and reporting compliance processes in the cloud.
“Amid the heightened volatility that has accompanied the Covid-19 crisis, equity investments are attracting more scrutiny than usual, making this an opportune time to implement a cloud-based solution that scales globally and adjusts instantly to changes in investment thresholds. We look forward to working closely with MUFG to implement best-in-class automated global shareholding monitoring and reporting.”
