New York, NY, May 11, 2022 (GLOBE NEWSWIRE) -- Abel Noser Solutions, a leader in trade analytics and compliance solutions to financial institutions globally is working with Capital Market Solutions LLC (CMS), a NYC-based capital markets solution provider, to offer clients of both firms a comprehensive FINRA CAIS solution. The FINRA CAT Customer & Account Information System (CAIS) is the separate system for submissions of customer and account data. In this phase, CAT reporting firms are required to submit full customer and account data by July 11, 2022.
Commenting on the announcement, Satish S. Mujumdar, Partner, Capital Market Solutions said, "We have built this specialized state-of-the-art CAIS solution as an extension of our industry leading CAT solution (SEC Rule 613) as a comprehensive way to assist firms with their FINRA reporting obligations and oversight. Our partnership addresses ongoing regulatory challenges by helping clients remain compliant and competitive in today's investment landscape."
Brett MacLeod, Head of Sell-Side Services for Abel Noser Solutions remarked, "This single vendor offering also leverages our combined data handling capabilities to provide a single point of contact and limit security exposure while using CMS's systems platform for storage and data management." He added, “Why put your firm at risk of potential fines, or damage to reputations when there is a cost-effective solution at hand?”
“We are pleased to have selected the Abel Noser/CMS solution to help us meet the July 11th CAIS deadline,” said Stephen S. Berkeley, Chief Compliance Officer at Loop Capital. “The Abel Noser/CMS offerings have been a key tool in facilitating compliance with the CAT reporting obligations and will provide a reliable, integrated platform to enable compliance with the CAIS requirements.”
"The bottom line is that CMS’s CAIS platform enables firms to effortlessly scrub their customer account reference data coupled with a Firm Designated ID (FDID) by using our unique automated processes and provides an on-going capability to synchronize and report account data changes to the FINRA CAIS," said Mr. Joseph Chafatinos, Partner at CMS. "In fact, our solution goes beyond baseline reporting obligations regulators require to ensure data is accurate in CAIS and other critical reference data systems.”
For more about FINRA CAT reporting solutions, see the AN website.
About Abel Noser Solutions
Abel Noser Solutions has long been respected as a leader in the campaign to lower the costs associated with trading. With hundreds of clients worldwide, Abel Noser Solutions offers software products along with consultative and bespoke services in the areas of trade analytics, compliance, and trade surveillance. The firm continues to hold its place as the leading innovator in TCA, compliance software, and service solutions. Learn more at www.abelnoser.com.
About CMS
Capital Market Solutions (CMS) provides consultancy and advisory services to financial services companies with an emphasis on capital markets, providing solutions for investment banks, exchanges, broker-dealers, hedge funds, asset managers, trading and clearing firms. CMS leverages the expertise of "executive level technologists" from the leading technology vendors. Learn more at www.capmarketsolutions.com
