Pinnacle Investment Management Ltd (ASX) has teamed up with TRAction, a regulatory technology provider, to upgrade its reporting processes under the European Market Infrastructure Regulation (EMIR) and the Australian Securities & Investments Commission (ASIC) frameworks.
The partnership is set to simplify Pinnacle’s trade reporting and cut down the internal resources needed to stay compliant.
Pinnacle Investment Management is a multi-affiliate firm operating in Australia, the UK, the EU, and the US. The company provides support to investment managers with distribution, compliance, financial reporting, and more.
By adopting TRAction’s trade reporting solutions, Pinnacle Investment Management ensures compliance with new regulatory requirements, such as the recent EMIR Refit changes that came into effect in April, and the upcoming ASIC Rewrite scheduled for October 21, 2024. These changes require more resources for transaction reporting, including new XML submissions and extra data fields to match counterparties’ reports.
Quinn Perrott, co-CEO of TRAction, commented:” We are delighted to partner with Pinnacle Investment Management for their EMIR and ASIC reporting requirements. By implementing TRAction’s services, Pinnacle’s trade reporting process will be streamlined and updated in line with regulatory changes, allowing them to concentrate their resources on their core products and services.”
Dan Longan, CEO & CFO of Pinnacle Investment Management, added: “Pinnacle Investment Management is pleased to collaborate with TRAction and leverage their specialist knowledge and expertise in the complex Regulatory technology area to ensure all our trade reporting obligations are met. By working with specialists in their fields Pinnacle can offer a broad range of services to support our affiliated Fund Management businesses, so they can focus on Investment excellence.”
TRAction is a regulatory reporting solutions provider for over 700 firms worldwide. It offers services across multiple jurisdictions, including Europe, the UK, Australia, Singapore, and Canada.
The London-based RegTech firm specializes in simplifying regulatory reporting for brokers by offering pre-built integrations with trading platforms. This helps reduce the manual work needed to meet reporting obligations, including the new EMIR Refit requirements and the upcoming ASIC and MAS rewrites.
Earlier this year, TRAction teamed up with trading technology provider oneZero to upgrade their existing integration, making it easier for brokers to stay compliant with changing regulatory requirements.
