Informe_Anual_Cecabank_2016_ENG

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4. Financial Reporting
Pyramid is Cecabank’s response to increased pressure from
regulators requesting new financial information.
Pyramid gives our clients full and comprehensive coverage of the reporting
cycle; it includes all aspects, from regulatory analysis stemming from the pu-
blication of a reporting requirement through to the physical sending of files,
once all the information requested has been collated and approved.
CONSULTANCY SERVICE
Regular
publications
(regulatory outlook, monthly
editions, and specials)
Database of
financial and
interbank
regulations
2016
CONSULTANCY SERVICE
Corporate
Governance Project
FINREP Project to
adapt to the CRS
model (Common
Reporting Standard)
Intermediation
when presenting
information
Analysis:
regulatory, standards
and functional
Technological platform
Lobby
5. Regulatory Consultancy
In recent years Cecabank has positioned itself as a leading
light in financial regulation consultancy and advisory services.
Our skill in anticipating new regulations, our team’s high level of expertise,
the support of our own tools such as our financial regulations website, com-
bined with Cecabank’s specialist experience and knowledge are just some of
the factors that define our service.
The main lines of the Consulting and Advisory Service are:
Access to the financial regulations website (for subscribed users) which
includes daily updated versions of all the regulations applicable to credit
institutions and regulation projects (Spanish, European Union, and in-
ternational) as well as interbank regulation (interbank procedures and
standards, etc.).
Daily news service by email of alerts and notices with new national
and international regulations, classified into published regulations and
non-regulatory projects.
Monthly publication of reports summarising the effects of the main
standards and projects published.
Publication of reports describing regulations of special importance and
their impact on companies. This reports are written when the regulation
is published and are issued before the publication of the monthly outlook.
Some of the most noteworthy projects developed in 2016 were:
Corporate governance project. Identifying and bringing together all
the corporate governance and remunerations regulatory demands
and best practices.
FINREP Project. Project to support companies in interpreting new FIN-
REP financial statements and identifying changes and updates of the
new Annex IX.
Project for adapting to MIFID 2/MIFIR, PRIIPS regulation. A project
spanning several years to identify the impacts and measures banks need
to take to fulfil the new requirements related to investor protection, trans-
parency, and communication of operations, stemming from the MIFID
and PRIIPS regulations for related retail investment products and insur-
ance based investment products.
Cecabank 2016 Annual Report Page 73
05 OUR BUSINESS MODEL
5.1
5.2