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Reg-Room launches Reg-Impact tool

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Reg-Room has launched Reg-Impact, a technology solution designed to help banks, broker-dealers, advisers, insurers and hedge funds monitor rule and regulatory changes, allowing them to assess the impact on their organisations and create implementation plans and reports.

Reg-Impact helps to manage rules and regulatory assessments and compliance for an organisation on a real-time basis. It creates a forward-looking calendar and implementation plan for rules that require internal action to ensure effective compliance.
The rules are easily searchable by keyword or multiple filters including regulator, country, region, date-range and by type of legal entity, financial product or firm function.
Reg-Impact enables company administrators to quickly and easily assign the rules and regulations that impact a business. Administrators can select which rules their company needs to assess for compliance as soon as they are published. It facilitates requests to subject matter experts to perform impact-assessments on rules.
Newly proposed rules are added to the system daily, as well as any rules that have been finalised or substantially modified.
With over 25 years of experience working in regulatory and financial functions for major financial firms and regulators, Nick Paraskeva, founder of Reg-Room, created Reg-Impact as part of a growing suite of global regulatory monitoring services to assist financial services organisations meet the increasing need for regulatory content and related monitoring services in a secure environment.
Paraskeva (pictured) says: “We created Reg-Impact to build upon the strengths of our existing Reg-Track system, which is used by leading firms to identify new rules. In response to client demand, Reg-Impact expands our tracking service to create a process-flow around implementation. This allows enterprises to assess how new rules affect them, and the actions they need to take to comply.”

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