One of the key obstacles lies in the variety of the reporting obligations. It includes managing and complying with a multitude of regulatory frameworks such as AIFMD Annex IV, CRS/FATCA, TPT, S2.13, S2.16, and others. When Reporting Financial Institutions (RFIs) operate across multiple jurisdictions, each with its own reporting requirements, it increases the level of complexity. This implies RFIs stay up to date with evolving regulations. The pressure also comes from the sheer volume of data that needs to be centralized, structured, and processed. It takes a lot of time and requires careful attention to detail. Data inaccuracies can lead to operational risks and trigger interactions with regulators. These iterative justifications create stress and consume significant amounts of time. Finally, RFIs need to meet the reporting deadlines in order to prevent penalties and protect against reputational damage. All these difficulties not only hinder operational efficiency but also draw valuable human resources away from more strategic activities.

Efficiency through process automation

To address those above-mentioned challenges, Domos FS developed a single source of truth regulatory reporting solution, embedding customizable workflows to generate reports in various formats in just a few clicks and offering direct submission capabilities to regulators. The objectives were to gain time and to minimize manual interactions to mitigate the potential for errors and discrepancies, the main intention being to use the collected and produced data to enhance transparency and provide added value to the overall process.

"As for our other solutions which strengthen operations efficiency and enhance investors’ experience, we streamline regulatory reporting for the Alternative investments’ industry. We provide a centralized database and a user-friendly interface, helping professionals to easily manage and automate the reporting process." says Antoine Belingar, Sales Associate at Domos FS. The solution also archives all reports and is set up to directly receive and store the acknowledgement messages from the regulators. It becomes easy to justify or check data if ever local tax authorities were to conduct an audit. “Our goal is to help internal and third-party AIFMs, fund service providers and administrators navigate with confidence in the regulatory landscape. We simplified their reporting journey to free time and resources for initiatives aimed at delivering value to their clients.” adds Antoine Belingar, Sales Associate at Domos FS.

With already ten years of experience on the subject, Domos FS has an extensive knowledge in addressing the Alternatives regulatory challenges in Luxembourg and in the rest of Europe.

Domos FS is a FundTech specialised in the management of alternative funds investing in non-listed assets ie. private equity, real estate, infrastructure, debt and fund-of-funds.

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