REGnosys was founded in 2017 as a ‘RegTech’ with a focus on capital markets’ reporting requirements. Our mission is to build the future of data and reporting for financial markets, enabling financial institutions to comply safer, cheaper and faster through collaboration.
Our flagship product, Rosetta, is the first and only low-code collaboration platform dedicated to the emerging Digital Regulatory Reporting (DRR) movement. Rosetta equips DRR firms and their regulators with a shared language to digitise the reporting requirements in a transparent, standardised and cost-effective way.
REGnosys is also the technology partner to the industry’s trade associations who are developing the Common Domain Model (CDM). The CDM is an open-source, human-readable and machine-executable data model for financial contracts and processes, which is built, tested and released using Rosetta.
DRR participating firms are collaborating on Rosetta to build an open source, standardised and machine-executable interpretation of the reporting rules using the CDM as an input. Thanks to the Rosetta platform’s integration automation capabilities and support for the conversion to and from existing messaging standards and platforms, firms can directly plug this logic into their reporting systems. This allows them to achieve consistency in the interpretation and implementation of new post-trade reporting requirements at a fraction of the usual cost.
How did you come up with the idea for the company?
I founded REGnosys because I saw from the inside how regulatory compliance implementation has for too long been beholden to inefficient legacy processes and formed a vision on how to solve the problem. I also knew that it would not be possible to change the industry from the inside, so I decided to build a team of industry experts and technology specialists to weed out the complexity from post-trade data management.
Over the past decade, regulatory reporting has proved increasingly difficult due to the sheer volume of data requirements embedded in often conflicting and ambiguous rules, resulting in fragmented approaches globally. REGnosys is changing this by enabling firms to harness DRR and the power of collaboration using Rosetta, allowing for a more efficient and standardised reporting process.
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How has the company evolved over the last couple of years?
As financial institutions have suffered from an ever-increasing regulatory burden and the cost of compliance has surged for global companies operating across jurisdictions, RegTech has emerged as one of the fastest growing sectors of financial technology.
Since 2017, we’re proud to have hired exceptional talent alongside this growth and have developed the Rosetta platform as an award-winning product that is uniquely suited to the challenge. We were delighted to be selected as an early-stage company by the industry’s trade associations as their partner to develop the CDM. This industry-wide collaboration won the regulatory reporting category of the G20 TechSprint in 2020. Rosetta also powered the Bank of International Settlement’s Project Ellipse that explored cross-border digital regulatory reporting.
Rosetta is now proving its mettle in production, with reporting firms going live with the CFTC Rewrite (December 2022) and next with EMIR Refit (April 2024) leveraging DRR.
What can we hope to see from REGnosys in the future?
The RegTech market is on a clear upwards trajectory, with some estimates suggesting that spending on RegTech will make up more than 50% of global regulatory compliance budgets by 2026.
Through our work at the core of this industry, we believe that the adoption of technology-driven solutions will be key in helping firms not only adapt to upcoming regulatory deadlines – but also prepare for future updates more effectively.
While most firms are currently focused on the upcoming CFTC Rewrite and EMIR Refit deadlines, regulatory reporting reforms are expected across the G20 over the next few years. These include rewrites to the Australian Securities and Investments Commission (ASIC), the Monetary Authority of Singapore (MAS) and the Hong Kong Monetary Authority (HKMA) amongst others.
We look forward to helping financial institutions harness the DRR movement and use Rosetta to navigate these regulatory changes and adopt a more strategic approach to data management.