Latest news with #regulatoryreporting
Associated Press
12 hours ago
- Business
- Associated Press
Wolters Kluwer to join industry leaders at Risk Live Europe
LONDON--(BUSINESS WIRE)--Jun 16, 2025-- Wolters Kluwer Finance, Risk and Regulatory Reporting (FRR) is set to join the conversation at Risk Live Europe 2025, one of the year's key gatherings for senior risk professionals. Held June 17-18 at Convene Sancroft, St Paul's, London, the event will bring together more than 600 senior risk professionals from across the financial services sector to tackle the urgent questions shaping today's credit, market, liquidity, and operational risk landscape. Francis Lacan, Director of Product Management at Wolters Kluwer FRR, will speak on a panel titled 'Our golden age has just begun: MAGA's mercurial markets' on Tuesday, June 17, at 11:40 a.m. BST. He will join thought leaders from Citi, State Street, and Thematic Markets to unpack the limitations of traditional risk models, explore the realities of volatility, and share strategies for managing the ripple effects of global instability. The FRR team will also be on site to showcase OneSumX – the award-winning platform for finance, risk management, and regulatory reporting. Built to power advanced risk analytics and compliance across jurisdictions, OneSumX gives institutions the tools to stay ahead of shifting requirements and rising stakeholder expectations. Wolters Kluwer experts will be available throughout the event to discuss how institutions can enhance transparency, strengthen risk frameworks, and adapt confidently in real time. The conference wraps up on June 18 with the prestigious Risk Technology Awards, celebrating the year's standout innovations in risk and technology. 'Risk Live Europe is where real conversations happen,' said Jeroen Van Doorsselaere, Vice President of Global Product and Platform Management, Wolters Kluwer FRR. 'It brings together people who are deep in the challenges of risk management—navigating everything from interest rate and market volatility and liquidity constraints to climate risk and shifting regulatory expectations. We're looking forward to sharing how our technology helps firms respond with more agility and confidence, and just as importantly, learning from others in the room. Events like this help push the entire industry forward.' Wolters Kluwer Finance, Risk and Regulatory Reporting is part of Wolters Kluwer's Financial & Corporate Compliance (FCC) division, which provides a wide range of technology-enabled lending, regulatory and investment compliance solutions, corporate services, and legal entity compliance solutions. About Wolters Kluwer Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions, and services for professionals in healthcare, tax and accounting, financial and corporate compliance, legal and regulatory, corporate performance, and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services. Wolters Kluwer reported 2024 annual revenues of €5.9 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,400 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands. For more information, visit and follow us on LinkedIn, Facebook, YouTube, and Instagram. View source version on CONTACT: Media Contact David Feider Associate Director, External Communications Financial & Corporate Compliance Wolters Kluwer Office +1 612-246-9454 [email protected] KEYWORD: EUROPE IRELAND UNITED KINGDOM NETHERLANDS INDUSTRY KEYWORD: TECHNOLOGY FINANCE FINTECH BANKING OTHER TECHNOLOGY ACCOUNTING PROFESSIONAL SERVICES SOFTWARE DATA ANALYTICS SOURCE: Wolters Kluwer Copyright Business Wire 2025. PUB: 06/16/2025 04:05 AM/DISC: 06/16/2025 04:03 AM
The National
4 days ago
- Business
- The National
Whistleblowers must report tax fraud judiciously but also be protected
You cannot get into business without accepting that you have entered a competitive space. Therefore, it is reasonable to expect that all players operate within the law. Legally mandated periodic regulatory reporting and the knowledge that an external audit by an empowered body can occur at any time should be enough to ensure that no one cheats. Unfortunately, cheating happens. Even the clearly communicated punishments for doing so never seem to be sufficient to deter bad behaviour. Legally, you must fail two tests. They are, and to reinforce how dim a view is taken of this, I am using the legal Latin terms, mens rea and actus reus (meaning: guilty mind and guilty act). You need to think about committing an offence and then act on that thought. So far, we are talking about malfeasance being uncovered by a non-trading external body. Today, in the light of a recently issued Federal Tax Authority (FTA) guide, I wish to address the mechanism in place for all other actors that might likewise reveal potential illegal activity. I say potential because tax law is very complex in parts, and it is not impossible that someone might misunderstand a situation or treatment they have witnessed, and then innocently report it. Issued in December 2024, a whistleblower programme for tax violations and evasion represents the first detailed approach to the issue. I addressed this topic in a more general way in an article published by The National on April 29, 2017, as VAT was being launched. There was no formal programme then to protect whistleblowers but their impact could be imagined. Particularly worrying was the potential for aggrieved personnel who were returning to their home countries unleashing a litany of allegations to the relevant authorities. Trying to sift through that reported in anger would be a challenge. Also, now abroad, a person might assume that there would be no consequences to their actions. Understand that this new regime does not just relate to people, but to any juridical entity. I might have used a different word than informant, which represents the reporting party. While the word is absolutely accurate, language changes over time based on its usage and television has not been kind to the general perception of what an informant is and what often happens to them. The guidance lists two categories of information they are interested in. Firstly, there is suspected tax evasion, which includes anything from registering with false information to submitting returns that are manipulated to reduce or mitigate any payable tax. Secondly, there is non-compliance – from falsifying invoices, be it with incorrect amounts or use of a different currency, to trading under the counter for cash and keeping such transactions off the business's financial accounts. This is clearly identifiable fraudulent activity. An approach may be rebuffed if it is considered insufficient to prosecute. However, this does not prevent further approaches if additional and more substantial evidence is collected and presented. In presenting their evidence, the informant must clearly identify themselves. This will naturally remain confidential. Importantly, should any legal proceedings commence, the informant will remain unnamed. Two interesting things follow. One is whether the prosecuted party is made aware that their actions were uncovered and reported by a person or a juridical entity. Clarity on this element would be useful. Second is the matter of a monetary reward. A non-disclosure agreement is signed as part of this process. Any reward would be paid subsequent to a successful prosecution and collection of monies due. There are specifics worth reviewing, although it might be hoped that any reports made would be from a desire to see fairness than the prospect of a monetary windfall. The informant's involvement ends as action is being taken. No updates are provided on the nature of the continuing case, which would seem to be a sensible protocol. For someone to step forward and provide information about the actions of another creates on them a burden, which must be co-shouldered. Hence, the receiving party provides for protections where it's accurate and in good faith. The submission is made using the FTA portal and the process is well documented. I finish by highlighting this because the FTA document is, and I quote, 'not a legally binding document and is not intended to provide comprehensive details associated with taxes and is not intended for legal reference'. Either protection exists or it does not. I am not a solicitor, but for someone to agree to fall backwards, they must be certain that they are falling into the arms of safety.
Finextra
20-05-2025
- Business
- Finextra
Droit integrates LSEG's global shareholding disclosure data
Droit, a technology firm at the forefront of computational law and regulation, now supports LSEG's Global Shareholding Disclosure Data in its Position Reporting product. 0 The data, paired with Droit's unparalleled rules logic, enables financial institutions to efficiently automate their regulatory reporting of shareholder disclosures in one streamlined workflow. LSEG's Global Shareholding Disclosure Data provides fifteen types of total shares and total voting rights to ensure positions can be monitored against an accurate denominator. Licensed users of LSEG's Global Shareholding Disclosure Data can now map the data stream directly into Droit's Position Reporting product, which automates decision-making and provides a traceable audit record for every position evaluated against a global set of obligations. 'Firms consistently highlight two issues they face in complying with shareholder disclosure regulation: rule interpretation and reference data,' said Somerset Pheasant, Chief Strategy Officer, Droit. 'At Droit, accurately digitising regulation is at the core of what we do. Integrating LSEG as one of the reference data sources into our Position Reporting product represents an important step in addressing our clients' challenges and allowing them to benefit from the most accurate and comprehensive solution for shareholding disclosures.' Droit's Position Reporting product provides aggregation and disclosure eligibility logic, and report generation capabilities. The rules are built using consensus interpretations of the regulations, reviewed and refined through Endoxa, in conjunction with some of the largest and most complex financial institutions. Overall, the platform provides operational efficiency, confidence underpinned by consensus, and transparency of decisions linked directly to the original source text as well as legal and consensus memos. Fausto Marseglia, Head of Product Management at LSEG, commented, 'Shareholder disclosure rules vary significantly across jurisdictions, creating a complex compliance landscape for institutions. We are excited to partner with Droit, as by integrating LSEG Global Shareholding Disclosure Data directly into their platform, clients gain access to a powerful, end-to-end solution that reduces the compliance burden through automation and trusted data.'
