WITH EMIR REFIT YOUR CURRENT COMPLIANCE STRATEGY WILL BECOME OBSOLETE
Setup a future proven compliance strategy now.
EMIR REFIT: A whole new beast
EMIR REFIT is a complete transformation totally changing your EMIR reporting obligations as you are currently familiar with.
The total number of required fields has already grown from 80 to 129, and there is more to come. There is an additional increase of 64% more fields on the way to further increase the total number to 203 fields!
Further 90 changes to format, field name or field definitions result is 87% of fields that are new or different. So you can forget about relying on any previous experience or existing solutions as the complexity will dramatically increase far beyond what it was in the past.
Do-It-Yourself compliance is about to get expensive.
Regardless if its in-house expertise or external solutions, the increased demands of EMIR REFIT is going to stretch your existing resources even further, preventing them from adding value to your core business.
With an increase in reconciliation effort of over 40% per transaction, just maintaining the status quo is going to require further investments and expenses, which means more resources for training, leaving you trapped in a vicious circle.
Do not take the risk of carrying the burden to stay compliant, leaving you with a hard deadline and high-stakes fines as the price of failure.
We always keep you compliant.
Regulatory compliance is a never ending story
Being compliant is a continuous, laborious effort at the best of times but with something as complex as EMIR REFIT on the horizon, it will push your ability to scale compliance capabilities beyond the limit.
With an ever-growing list of regulations from a growing list of origins, whether its new European legislation or changes triggered by Brexit fallout, the onus is still on you to remain complaint – and these changes don’t always wait in line.
All it takes is for one bad implementation to hurt your reputation, your business, and even your future growth potential – and you won’t know it’s happening until it’s too late.
Don’t just REFIT EMIR, REFIT your Compliance
Forget cost to performance ratios
TCO is theoretically one of the best and clearest ways to address cost sensitivity: it’s your best friend because numbers don’t lie.
But TCO also needs clear insights into cost drivers, which is impossible when you have human resources moving the work along (a particularly common phenomenon with compliance topics).
Hidden costs like the time cost of IT tenants who need to setup, support, and maintain systems, or indirect ones like regulatory compliance consulting, result in misleading TCO indicator and completely destroys any hope of having a truly clear cost of compliance.
The TCO transparency you deserve
Break the Circle
with deltaconX
There is a way to stop worrying about EMIR REFIT and future regulatory and compliance changes.
Switch to the ISO 27001 accredited deltaconX regulatory platform where the expertise is built in, and everything is kept up to date and compliant for you.
Reduce costs, efforts, and risks with a trusted SaaS based deltaconX regulatory platform designed to streamline workflows and engineered to release your existing resources and being able to focus on your core business again.
We even let you forget about long and painful migration processes. Our team of experts will guide and support you along your tailored onboarding path so that you can start to benefit from our service as quickly as possible.
We already cover 57% of all the mandated EMIR REFIT changes with a proven track-record across clients and repositories, making deltaconX the smart choice for futureproofing your compliance.
Take the first step toward focusing on your core business again.
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Failing to prepare means planning to fail
Changes to compliance are rarely quick or easy to make and even with smaller updates. It’s like trying to make a handbrake turn with an oil tanker as the devil lies in the details.
Anyone who has been involved in compliance exercises knows that it takes time, from the initial decision making to planning, to tendering, to purchasing, to onboarding, to ramping up, and even certifying …
For something as profound as EMIR REFIT, any existing solutions will need to be completely rebuilt from the ground up and any existing setups have to be critically assessed to see if they can be improved or need replacing.
So the question is how much time do you have left?
It is still not too late but you need to act now.