Firms operating in today’s capital markets face ever-increasing pressure to maintain impeccable accuracy and consistency in FINRA CAT reporting. The real challenge lies in execution. Despite firms’ best efforts, the limitations and inefficiencies of traditional review tools can leave compliance teams exposed—wasting time, chasing data, and risking oversight.
The RSMS’s Comparative Review tool by Capital Market Solutions steps in as a true game-changer. By unifying comparative review workflows and providing an intuitive, comprehensive interface purpose-built for CAT reporting, RSMS gives compliance and operations teams the means to achieve a new level of insight, control, and confidence.
The Challenges of Ensuring Accuracy in CAT Reporting
Regulatory reporting is an exercise in precision, especially as the scope of the CAT expands. Every trade event, lifecycle update, and systematic process must be mapped and reported accurately to FINRA CAT. Mistakes are costly—not just in terms of scrutiny, but also trust and reputational risk.
Firms often struggle to maintain visibility across the many data sources involved in CAT reporting: OMS, EMS, and algo systems all feed into the record, each with unique formatting and mapping nuances. Traditional review processes, despite their value, are often dependent on siloed tools, spreadsheets, and manual validation steps. This can lead to fragmented oversight, inconsistent application, and slow reaction times when discrepancies are identified.
Why Traditional Reviews Fall Short of expectations
Most legacy approaches to review are stuck in the past and hidden reporting logic:
- Fragmented Toolsets: Juggling multiple trading platforms, custom scripts, and clumsy reporting logic creates fragmented oversight. It’s easy to lose sight of the overall reporting ecosystem, making it hard to spot gaps or trends.
- Labour-Intensive Workflows: Manual cross-checks and reviews, often relying on Excel or disparate portals and custom logic that burn time and introduce human error. Even the most meticulous compliance professionals are vulnerable to oversight.
- Limited Visibility and Control: Without centralized views and normalized data identifying, tracking, and resolving issues becomes slow and reactive.
- Inaccurate Order Attributes: When visibility is limited and processes are inconsistent, the risk of late, incomplete, or inaccurate reporting is amplified—exposing firms to FINRA scrutiny.
Put simply, traditional reviews struggle to keep pace with the complexity and urgency of modern CAT reporting requirements.
RSMS Comparative Review: Elevating the Standard
RSMS offers a consolidated Comparative Review functionality, bringing together features into a single, unified interface.The smart regtech eliminates the gaps and headaches of traditional approaches.
Unified, Intuitive Comparative Review Screen
RSMS offers a single, user-friendly Comparative Review interface designed specifically for FINRA CAT WSP requirements. This unified view brings together all relevant streams, OMS, EMS, algorithmic data, and CAT submissions, and provides intuitive dashboards with drill-down capabilities so compliance teams can interact with all their critical review points in one location.
Streamlined Workflows and Transparent Data Mapping
The RSMS Comparative Review functionality consolidates and simplifies several previously complex tasks:
- All-in-One Access: No more switching between disconnected apps, custom logic or spreadsheets. All your Comparative Review needs are in one place.
- Clear Data Mapping: The RSMS interface transparently shows how every event and field is mapped from source systems to CAT submissions. Point-to-point traceability means faster identification of mismatches and missing data.
- Configurable Review Parameters: Each firm can adjust review rules and parameters, ensuring that checks are always optimized for their workflows and compliance priorities.
Enhanced Insights and Control
Gone are the days of chasing down obscure mismatches or missing events. RSMS empowers compliance teams with deep, at-a-glance insights:
- Gap and Exception Identification: Immediate, visual flagging of data gaps and mismatches makes it easy to investigate and resolve issues long before they reach regulators.
- Investigation and Audit Tools: Teams can drill down and track investigations, document findings with audit trail of changes and reviews, a must for regulatory oversight.
- Cross-Team Collaboration: With everything in one interface, collaboration between compliance, technology, and operations becomes seamless.
Transformational Benefits for Compliance Teams
Firms leveraging the RSMS Comparative Review see measurable gains:
- Efficiency and Time Savings: Unified workflows let compliance teams spend less time gathering data and more time analyzing and resolving issues.
- Data Integrity: Consistent review and transparent mapping reduce the risk of errors or unreported events.
- Lower Regulatory Risk: With greater transparency and control, firms are better positioned to meet FINRA CAT obligations and pass regulatory scrutiny.
- Confidence in Reporting: Stakeholders, from compliance to executive management, gain confidence in the accuracy and consistency of CAT reports.
- Cost Reduction: By reducing manual effort and reliance on patchwork systems, RSMS lowers the total cost of compliance for CAT reporting.
Embrace Intelligent CAT Compliance with RSMS
The compliance landscape isn’t getting easier, and the cost of mistakes is only rising. If your Comparative Review process relies on fragmented tools or outdated workflows, it’s time to raise your expectations.
RSMS by Capital Market Solutions is redefining Comparative Review in CAT reporting—offering unified visibility, efficient workflows, and transparent controls that put compliance teams back in the driver’s seat.
Are you ready to experience seamless compliance like never before?
Embrace the next level of Comparative Review. Discover how RSMS can help your firm master FINRA CAT reporting with confidence and clarity.