In recent months, we’ve seen many occasions in which the regulators are forcing firms to correct and resubmit historical records to FINRA CAT to resolve reporting issues, and not just compelling them to fix the errors on a go-forward basis.
Using our proprietary tools – and just a day’s worth of your CAT and/or CAIS data – n-Tier will provide a comprehensive overview of you current reporting. We’ve helped firms identify CAT and CAIS reporting errors that are not covered by FINRA CAT feedback or captured in the Compliance Error Rate.
Read on to learn more, and fill out the form on the right to get started.
n-Tier’s Analytical & Supervisory Tools for CAT and CAIS
Offering enhanced oversight and monitoring capabilities to help detect reporting errors not covered by FINRA CAT Feedback or Report Cards, n-Tier’s reporting analysis tools for CAT and CAIS provide clients with an additional mechanism to assess the accuracy and completeness of their reporting on an ongoing basis. These tools, which supplement n-Tier’s daily reconciliation, validation, and exception management controls, are designed to further support clients’ supervisory programs by providing continuous metrics and monitoring to help detect reporting anomalies and variances.
- Contains hundreds of baseline analysis scenarios, which can be customized based on business characteristics
- Example: For timestamp fields, the CAT tool provides a count and percentage of Order Events within / outside 9:30am – 4pm, plus a breakdown per hour (e.g., to check for GMT vs ET), as well as a count and percentage of timestamp values with all zeros in the milliseconds (e.g., to see if reporting to millisecond precision).
- Provides complex cross field / event type analysis and supports cross regulatory report validations
- Example: For accountType and customerType, the CAIS tool provides a count and percentage of the accountType and customerType values (and unique value sets / combinations) within FDID records, which can then be compared against the CAT tool’s accountHolderType output.
- Tracks 20-day rolling averages and flags errors when anomalies are detected
Contact us today for a complimentary one-time CAT or CAIS assessment using our reporting analysis tools and learn more about how our clients leverage these tools alongside our full suite of CAT and CAIS controls.
Who We Are
n-Tier is an innovative financial technology company that couples deep industry expertise with a unique software platform to help institutions minimize the risks and costs associated with regulatory reporting.