The Regulatory Technology Platform
Radically transforming the financial industry’s approach
to regulatory compliance
The regulatory compliance paradox
The aggregated cost of regulatory compliance across the financial industry is reaching $80BN globally. And yet compliance related risks remain at all-time highs.
Why is that?
Sure enough, new regulations introduced after the 2008 financial crisis require firms to collect, aggregate and report unprecedented amounts of data, and integrate complex rules into their business workflows. And yes, these rules are open to diverging interpretations and not always harmonised globally.
But at the root of the paradox is the industry’s extreme state of technology fragmentation: often within a single organisation, the same data is represented in many different ways through multiple systems.
This results in highly complex regulatory implementations that have escalated into uncontrolled costs, still without guarantee of compliance: how do you prove adherence to a rule, when the logic is buried deep into a maze of disparate systems? This opacity also challenges regulators’ supervisory mandate and damages market transparency.
Our solution is a revolutionary platform that does more than just help your firm comply: it enforces compliance programmatically at every step of the process.
REGnosys’ solution is a cohesive platform that embeds complex rules as transparent, executable logic, packaged into a cloud-based software that directly plugs into your organisation’s workflows. Your compliance implementation becomes auditable, traceable and programmatically tied to the rules, from input to output.
From the rules as drafted, to the rules as executed, in a clear and simple way: this, is Programmatic Compliance.
This scalable compliance solution dramatically cuts the costs and risk of having to support your own complex implementation.
What is Rosetta
Rosetta is the key innovation at the heart of REGnosys’ platform –
The technological trick that enables the magic of Programmatic Compliance.
A digital asset
Rosetta consolidates the disparate technical practices of the industry: data standards, business workflows etc., into a single, digital repository.
Rosetta is able to tie the regulatory provisions as codified rules into these practices, in a way that is clear and easy to navigate. REGnosys’ platform uses Rosetta to convert regulatory texts into transparent, executable workflows. And thanks to Rosetta’s in-built mapping of business practices, these workflows become easy to plug into your firm’s proprietary systems.
REGnosys does not just deliver a compliance toolkit –
It fundamentally transforms the industry’s approach to regulatory compliance.
Rosetta is the key instrument of that transformation.
Rosetta enables a complete redesign of the industry’s regulatory infrastructure. For the first time, rules can be unambiguously tied to technical business practices, and therefore translated into executable, transparent and independently verifiable compliance logic.
For REGnosys, Rosetta is an industry asset that belongs to one place only: the open source – And that is just where we are building it.
No more dissecting through multiple systems and thousands of lines of code.
With Programmatic Compliance, evidencing compliance comes right at your fingertips.
Laurent-Olivier (Leo) Labeis
Co-Founder and CEO
With 15 years’ experience in delivering innovative solutions to securities trading businesses, Leo’s core expertise is in the transformational impact of technology and regulation across the financial sector.
Leo was the Global Markets head of MiFID II implementation at Goldman Sachs. Earlier in his career he built the Trading Strats team for EMEA Emerging Markets and designed the modelling of wrong-way risk, liquidity and regulatory capital, later deployed across other Global Markets businesses. Then appointed head of Macro CVA Trading Strats and Global head of FX Trading Strats, he moved regulatory capital and liquidity from a back-office Treasury function to front-office workflows. The framework allowed the firm to dynamically manage its financial resources’ footprint and to position strategically for regulatory-driven market structure changes. Leo joined Goldman Sachs in 2003 and was named Managing Director in 2010.
Leo graduated from Ecole Polytechnique in 2001 and holds two MSc. from Ponts & Chaussées and UPMC Paris VI with majors in Applied Mathematics and Electrical Engineering.
Co-Founder and COO
Pierre is an industry leader with 20 years’ track-record delivering cross-asset solutions for the standardisation of data and process and the electronic representation of financial instruments.
As senior member of Goldman Sachs’ Technology division, he co-developed the ISDA FpML standard for OTC derivatives and chaired the FpML Standards Committee. He led Goldman Sachs’ initial technology response to Dodd-Frank obligations and advised the CFTC as member of its Subcommittee on Data Standardization and subsequently of its Technology Advisory Committee. As the ISO working group lead for Rates products, he drove the framing of an ISIN solution for OTC Derivatives in response to MiFID II. Earlier in his career Pierre delivered a cohesive trade processing platform for OTC derivatives and an architecture upgrade to the firm’s books & records. Pierre joined Goldman Sachs in 1997 and was named Managing Director in 2012.
Pierre graduated and holds a PhD in International Economics from Sciences Po Paris.
Head of Technology and Operations of CLS
CLS enhances financial stability through the mitigation of FX settlement risk globally, playing a fundamental role in the FX market
Tom Zschach joined CLS in September 2014. He has extensive experience in delivering technology and business performance improvements in investment banking and clearing house technology businesses.
Before joining CLS, Tom was CIO at LCH.Clearnet where he led the technology function through a major business transformation program. Prior to this, he served as Managing Director and Global Head of Rate & Currencies Technology at Bank of America Merrill Lynch supporting the Markets businesses. He has also held various senior technology roles at Barclays Capital and Credit Suisse First Boston.
Tom studied computer science and finance at California State University, Sacramento and holds a MBA from Trium, an alliance between New York University Stern School of Business, London School of Economics and Political Science and HEC School of Management Paris.
Patrick de Nonneville
Chief Operating Officer of Lendix
Lendix is a leading European online marketplace for business loans, enabling investors to lend money directly to small and medium sized enterprises.
As a Partner at Goldman Sachs in London (2007 to 2014), Patrick was co-head of the European rates business and member of the Global Operating Committee for Rates.
He began his career at JPMorgan in Paris and London (1997-2003) as a “market-maker” on Treasuries, before joining Deutsche Bank (2003-2007) where he led the complex products trading activities and Inflation products.
Patrick is a graduate of Ecole Polytechnique.