Mitsubishi UFJ Financial Group (MUFG) has adopted a cloud-based solution for daily equity position monitoring and reporting provided by risk analytics and regulatory reporting tech vendor AxiomSL.
The Japanese bank will implement AxiomSL’s cloud-based Global Shareholding Disclosures solution for automated daily position monitoring and reporting in over 80 jurisdictions.
Many regulators require market participants to make specific disclosures when they accumulate a substantial shareholding in an issuer or security, invest in a sensitive industry, become involved in a takeover bid, or engage in short selling. There is, however, little standardisation of the rules, with each regulatory authority enforcing its own nuances.
MUFG will use AxiomSL’s solution to automate the process of monitoring and reporting threshold breaches, enabling firms to standardise their processes and defend audits.
“As one of the world’s largest banking institutions with equity investments globally, MUFG is a prime example of the type of firm that will benefit enormously by automating its shareholding monitoring and reporting compliance processes in the cloud,” said Gaurav Chandra, global product manager, global shareholding disclosures, AxiomSL. “Amid the heightened volatility that has accompanied the COVID-19 crisis, equity investments are attracting more scrutiny than usual.”
The solution enables MUFG to consolidate and aggregate reporting across its complex global entity structure and comply with detailed requirements in each jurisdiction, while applying a consistent, rules-based framework for aggregating and disaggregating equity holdings on a firm-wide basis.
AxiomSL’s client base spans regional and global financial institutions with more than $43 trillion in total assets and investment managers with more than $11 trillion in assets under management. Its coverage encompasses more than 110 regulators across 55 jurisdictions.