MAP S.Platis, a regulatory compliance consulting firm operating in the UK and EU, has announced on Thursday the conclusion of its second agreement with the Cyprus Securities and Exchange Commission (CySEC).
The consultation company has helped the market watchdog with its services in investigations of any potential violations of the existing frameworks by the Cypriot Investment Firms (CIFs). The activity was done in relation to the regulator’s public tender 07/2020.
Commenting on the development, MAP S.Platis Group CEO, Demetris Taxitaris, said: “We are fully committed to supporting the financial services industry, leveraging on our teams’ technical know-how, multidisciplinary expertise, and global network.”
“Having earned a reputation as pioneers and innovators in the field of regulatory compliance, we have been working closely with a number of stakeholders throughout the years for the development of a reputable financial services industry and remain focused to delivering our best.”
Rising Demand for RegTech
Cyprus is the base of many financial service companies, and so the regulator has to proactively monitor the market players for any violations. CySEC settled with scores of CIFs for possible violations in recent months.
MAP S.Platis’ services span wide across regulatory technology, financial advisory, Blockchain and professional training.
The Group’s regtech services are offered under its MAP FinTech brand. It offers a range of regulatory reporting services, including MiFIR reporting, EMIR and SFTR reporting, ASIC reporting, best execution monitoring and reporting, CRS/FATCA reporting, eKYC, AML transaction monitoring and market surveillance amongst others.
Finance Magnates last month reported on MAP FinTech’s collaboration with post-trade market infrastructure provider Depository Trust & Clearing Corporation (DTCC) and the integration of DTCC Global Trade Repository (GTR).
