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Todd Moyer, Confluence

Confluence signs first four licences for Unity NXT Regulatory Reporting platform


Confluence has signed licenses with the first four clients for the firm’s Unity NXT Regulatory Reporting platform to manage end-to-end filing processes for the new regulatory reporting requirements imposed by the SEC Investment Company Reporting Modernisation rules.

Following the announcement of the final rules in October of 2016, Confluence has been working on a solution to solve the data-intensive reporting challenges imposed by Form N-PORT and Form N-CEN to ensure preparedness well in advance of the initial filing deadlines in 2018.
The Unity NXT Regulatory Reporting platform, powered by Synapse and introduced by Confluence in May 2016, will assist these firms in addressing the challenges of data-intensive new requirements like Form N-PORT and Form N-CEN. These mandates require new data, new formatting and condensed reporting timeframes that present a monumental operating challenge to back-offices. Firms will need to comply with the SEC Investment Company Reporting Modernisation rules as soon as 1 June 2018, and new requirements will affect approximately 13,000 US mutual funds.
Synapse provides data integration and workflow automation that accommodates changes to regulatory requirements. The platform’s agile design enables asset managers and servicers to quickly develop new reporting capabilities with minimal cost and complexity as regulators continue to mandate new and changing regulations. 
“As timelines for meeting regulatory mandates continue to condense, and the amount of data and number of data sources continue to increase, the biggest challenge facing the industry will be keeping up with the pace and scale of regulatory reporting,” says Todd Moyer (pictured), executive vice president of global business development at Confluence. “Through the Unity NXT Regulatory Reporting platform, our clients can leverage a single, validated regulatory data set that can be reused across the entire enterprise – achieving the efficiency, scalability and speed required to meet reporting mandates.”

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