ReportShield is Kaizen Reporting’s managed regulatory reporting assurance service that combines regulatory expertise with advanced automated testing and reconciliation to provide independent assurance over the accuracy, completeness and timeliness of regulatory reports submitted under regimes such as MiFIR, EMIR, CFTC and SEC SBSR.

Key Features

Multi‑dimensional Accuracy Testing Automated deep testing of all reported records and data fields, not just samples.

• Performs thousands of tests across the full population of submissions
• Identifies “valid but wrong” reports that pass basic validation but breach rules

Advanced Regulatory Reconciliation Independent reconciliation between internal source systems and regulatory records.

• Compares firm data with trade repositories, swap data repositories or regulators
• Includes logic for counterparty determinations, tiebreakers and no‑action relief where applicable

Reference Data Testing Quality checks over static and reference data used in reporting.

• Tests full populations of reference data and mappings to required identifiers
• Validates counterparty identifiers and proposes Legal Entity Identifiers where missing

Control Framework and Governance Support Support for building a complete reporting control and governance framework.

• Provides structures, policies, guidance and training aligned to regulatory obligations
• Enables firms to demonstrate effective controls when requested by regulators

Cross‑regulation and cross‑regime coverage Support for multiple reporting regimes and consistency checks between them.

• Covers obligations such as MiFIR, EMIR, CFTC, SEC SBSR and other G20 regimes
• Cross‑regulation testing to ensure reports are consistent across regimes

Automated managed service delivery Delivered as an automated managed service tailored to each firm.

• Periodic testing and reconciliation based on trading volumes and needs
• Bespoke tests can be added or adapted for firm‑specific requirements

Use of independent data sources Testing underpinned by extensive external reference and market data.

• Utilises numerous independent data sources for validation of reported data
• Provides an external benchmark rather than relying solely on internal records

Error analysis, reporting and insight Detailed output to understand and remediate reporting issues.

• Full breakdown of errors and queries with historical trends and benchmarking
• Granular metrics on reporting quality across business lines and entities

Benefits

Independent assurance over reporting quality Provides an impartial assessment of reporting accuracy, completeness and timeliness.

• Helps firms evidence comprehensive, effective controls to regulators
• Avoids “marking your own homework” by using external testing and reconciliation

Reduced regulatory and reputational risk Detects and quantifies reporting issues before regulators do.

• Helps prevent fines and enforcement actions arising from poor‑quality reporting
• Supports early remediation of control weaknesses and data quality problems

Improved control framework and governance Strengthens firms’ overall reporting control environment.

• Delivers structured controls mapped back to regulatory obligations
• Assists management in obtaining a consistent view of reporting across the business

Cost‑effective alternative to in‑house builds Offers a specialised service that can be more economical than internal solutions.

• Reduces the cost of developing and maintaining equivalent testing in house
• Provides ongoing updates as regulations and technical standards change