(PRWEB) September 11, 2004
STB Systems, a leading compliance software specialist, is providing enhanced automated reporting to the FSA. JIL will complete the implementation of STB-Reporter to provide automated reporting to the Financial Services Authority over the next few months.
STB-Reporter supports regulatory reporting to the Financial Services Authority for companies formerly lead regulated by the Securities and Futures Authority. STB-Reporter utilises data held within STB-SuperConsolidator and will output position, foreign exchange and counterparty risk capital resources requirements as well as large exposure and credit exposure reports and other important mandatory FSA schedules including balance sheet, profit and loss reports to the Financial Services Authority.
Complete return and cross-return validation is catered for and provision to adjust any mismatches. Fully audited outputs are included so all figures may be output electronically for direct dispatch to the FSA.
Commenting on the agreement, Michael Thomas, Group CEO, STB Systems, said, "We welcome JIL to the growing number of STB clients and are delighted that JIL have selected STB-Reporter. Given STB's guarantee to provide any and all changes or new returns that the FSA may introduce at no additional software costs, STB's solution is proving to be the ideal choice across the entire financial sector. The data held within STB-SuperConsolidator may be used for further projects as JIL continue to enhance systems and controls throughout their organisation. We look forward to a long & mutually beneficial relationship with JIL."
About STB Systems
STB is one of the world's leading vendors of automated compliance reporting solutions for the financial markets. Founded in 1984, STB has offices in London, New York, Hong Kong & Singapore. STB's solutions are designed to automate the critical controls that protect financial institutions, handling internal & external reporting to satisfy the relevant regulatory bodies and assist in compliance with anti money laundering procedures.
The company is one of just six recognised by the Bank of England for electronic reporting and works closely with many other respected industry bodies. STB's core competence puts them at the forefront of regulatory & compliance technologies, offering best of breed solutions for their customers.
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Tel: +44 (0)20 7403 2188
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