Regulatory reporting landscape increased significantly since Lehman Brothers’ financial crisis in both complexity and scrutiny, placing more controls and governance requirements onto reporting financial institutions.

Financial Institutions are required to maintain the data accuracy that will result in reporting accuracy.

Each country may have their own jurisdiction on financial reporting and may have specific requirements to report to.

The formulas and data supplied by the authorities to test for the reports is dynamic. Regulation validation rules check for data accuracy. Checks are done both at financial institution level and at federal reserve banks level.

Tracing data from local trade sources to final reporting by financial institutions. Any abnormal behaviour is monitored and analyzed followed by a successful audit.

Some of the Financial Institutions that need to file US regulatory reports include:

FFIEC 031 FRY 9C, FFIEC 101, FFIEC 102, FRY 9 LP, FRY 15, TIC BQ2, TIC BQ3 - Quarterly Reports