As the regulations around asset management increasingly become more complicated, RIMES has unveiled a way to cut through the complexities.
RIMES has launched a new BMR Dashboard service to help asset managers overcome uncertainty and volatility around risk exposure.
The new solution joins RIMES’ EU benchmark regulation (BMR) RegFocusSM suite to provide a simple and cost-effective solution in today’s challenging regulatory environment
RIMES argued that the BMR has provided a significant compliance challenge for the buy-side. The systems and processes needed to track the benchmarks landscape in-house are costly and resource-intensive.
These are the complexities RIMES has developed its new solution to solve. The RIMES BMR Dashboard will enable asset management firms to better understand their BMR exposure with simple graphs,drill down into the status of actual benchmarks and individual index return variants, view administrators’ Benchmark Statements and related documentation, check if given indices are permitted under BMR, and to research 3.3 million indices for onboarding workflows.
“Despite the EU Benchmark Regulation (BMR) coming into effect from January 1st 2018, it is still a significant compliance headache for firms to identify which benchmarks have and haven’t been authorised for use in the EU,” said Diarmuid O’Donovan, COO at RIMES.
“Our BMR Dashboard further enhances our suite of RegFocus BMR services, by making compliance accessible for asset management firms who are struggling with the in-house cost and resource required to manage compliance with the BMR effectively. RIMES does all the heavy lifting for clients so they can understand their true exposure under the regulation and act accordingly.”
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