- Global business and financial information company Bloomberg recently announced it acquired RegTek.Solutions, a leading provider of global regulatory reporting software solutions.
Global business and financial information company Bloomberg has announced that it acquired RegTek.Solutions, which is a leading provider of global regulatory reporting software solutions. This acquisition will expand the range of regulatory reporting services offered by Bloomberg and deliver a fully integrated and comprehensive service that supports compliance with current and upcoming regulatory reporting requirements across multiple jurisdictions around the world.
RegTek.Solutions — which provides modular software solutions built around actionable regulatory intelligence — will be integrated with Bloomberg’s Regulatory Reporting Hub (RHUB) as well as Bloomberg’s enterprise data management and trading systems. And the acquisition will bring together the expertise of both firms to deliver a systematic offering, combining Bloomberg data enrichment and reporting capabilities with RegTek.Solutions’ quality and control tools across a broad range of global reporting jurisdictions.
“The combination of RegTek.Solutions with Bloomberg RHUB allows us to substantially expand our regulatory reporting coverage, and offer quality and control tools to help our clients effectively meet the wide range of global reporting requirements,” said Bloomberg’s Global Head of Post-Trade Solutions Alejandro Perez. “As regulations become more complex, buy- and sell-side firms are looking for providers who can help them address requirements across various jurisdictions, with the necessary workflows and data structure that allows firms to maximize overall accuracy and completeness in their regulatory processes.”
Plus clients will have access to a fully electronic reporting workflow — including transaction reporting eligibility, data validation, enrichment, and reconciliation — to help them maximize accuracy and completeness in their reporting obligations.
“RegTek has built an award-winning product and impressive, tier-1 client base. Combining our solutions with the strength and scale of Bloomberg’s RHUB services, as well as access to their market data, enterprise data management, analytics and enrichment capabilities will allow us to offer the cross-jurisdictional, cross-asset solutions that our clients demand. We can now continue to deliver sustainable compliance at a scale that will have a fundamental market impact,” added RegTek.Solutions co-founder and CEO Brian Lynch.
RegTek originally launched in 2017 as a software spin-out from Risk Focus Inc., which is a leading consulting firm for capital markets that delivers custom solutions and DevOps advisory services. And RegTek raised a Series A round of funding in August 2017 from the Deutsche Börse and Illuminate Financial Management to scale operations and build a client base that includes G16 Banks.
RegTek was advised by NovitasFTCL Limited and represented by Odell Girton Siegel LLC.
