Regulatory search for Compliance Professionals
Regulatory search is domain specific and due to the technical nature and depth of financial regulatory texts, regulatory search needs a more specific and tailored platform than the mainstream search engines can provide.
A general search engine tool such as Google will struggle to find relevant content and results when searching for specific extracts of regulation, or regulatory jargon, let alone when searching for in-house interpretations of regulation or touch points between the regulation and your in-house systems and controls.
Single Rulebook specialises in regulatory search. Using the latest software and automation tools such as deep learning and Natural Language Processing (NLP), the platform delivers highly relevant search results across all UK and EU regulatory rules.
Single Rulebook helps solve search issues encountered by Compliance professionals on a daily basis:
- Regulatory jargon, such as definitions, common industry terms or other terms, is very specific and often makes use of abbreviations and common industry synonyms. Regulators in different jurisdictions often refer to the same regulatory concept with different wording. Single Rulebook is able to search and recognise specific regulatory content and terms.
- Finding a specific regulation is often a lot more difficult than it should be. Single Rulebook aggregates regulatory content on one digital platform, allowing users to search for specific rule references using various permutations. For example, a user may search for RTS 1 European MiFID II regulation instead of the exact title Commission Delegated Regulation (EU) 2017/587 of Directive 2014/65.
- Finding a text is still different from being confident that you have the latest version of the regulation in front of you. Single Rulebook provides that comfort by always using the latest version of the regulation.
- There are many different regulatory provisions based on or related to other regulatory text. Single Rulebook visually represents all these relationships as part of the search results so users can see all related text.
- Compliance professionals often need to locate very specific regulatory content in a way that is not enabled by mainstream search platforms. e.g. is there is any official guidance related to “market surveillance” rules?
- Single Rulebook allows users to search across official regulatory content in combination with searching in-house interpretations and touch points to in-house policies, systems and controls.
The Single Rulebook platform has been specifically designed to understand and respond to regulatory search needs and we are continually improving the search functionality, including a recent technology upgrade to improve search suggestions to users.
Get in touch / email@example.com
It’s never been easier to work with regulation
Today we have launched our new user interface for Single Rulebook, improving the user experience for clients and making it easier to navigate and work with regulation, across thousands of regulatory technical standards, articles and Q&As.
The result of many months planning and consultation, the new interface provides an enhanced and more user friendly experience across the platform with many new features.
As we continue to develop the platform, we will add further improvements in the coming weeks, such as enhanced search functionality, customised user email alerts, the facility to edit settings at the group level and a timeline function with track changes. Watch this space.
We are hosting training sessions on the new user interface. To register for a training session or to request a demo, please contact us.
Watch our video to see how Single Rulebook can help you manage regulation.
Do you know your company’s house view on important financial regulations? Are you adopting new, digital RegTech tools to help you develop a consistent regulatory compliance framework?
It could be that you’re attending an important meeting, or providing advice on a new business project and need to accurately convey your company’s viewpoint to a public audience. Whatever the scenario, it’s paramount that you have a complete understanding of your firm’s view on important regulatory matters within MiFID II, EMIR and more.
With the introduction of the new FCA handbook following the end of the Brexit transition period at the end of 2020, it’s also important to keep abreast of changes to UK financial regulation and the potential emergence of diverging UK and EU rules. The new and evolving UK FCA rules provide another opportunity for organisations to comment and form a view.
With financial regulation, the devil is in the detail and it’s important to understand all the nuances of each regulatory rule or technical standard. Often, a small difference in the wording can have a huge impact on regulated firms, market participants and their compliance policies. Ensuring that you know your company’s and legal counsel’s opinion on regulation increases confidence and improves communication across legal, compliance, regulatory change management, risk management and operational teams.
Regulatory intelligence software and RegTech technologies can help Legal and Compliance professionals and teams adopt consistent interpretations across global regulation by working on one common, digital version of the regulation. Single Rulebook’s regulatory compliance software also allows users to work intelligently across the regulation by searching, annotating and sharing the text. Working digitally in this way helps avoid costly misinterpretations and inconsistent views. In addition, regulatory mapping and dynamic rule maps provide visual guidance so that users can see the relationship between different pieces of regulation, Q&As and written guidance.
To make knowledge management a reality, it is crucial to improve accessibility to the house view and ensure that it is properly maintained. Compliance software tools can achieve this by assigning ownership and providing alerts when regulatory updates occur.
If you wish to discuss in-house view further, please contact us.
Media release: Single Rulebook Launches New Functionality to Switch between UK and EU Regulation
London, 25th February 2021 – Single Rulebook, a leading and integrated software platform for the management of regulatory rules, today announced that it has launched new functionality and tools to enable clients to compare and work effectively across existing EU regulations such as EMIR and MiFID II and the new UK Handbook, published by the Financial Conduct Authority (FCA).
Following the end of the Brexit transition period on 31st December 2020, regulated firms must navigate and comply with two sets of rules across the EU and UK regulatory regimes, significantly increasing the scope and workload of Legal and Compliance teams across the UK and Europe.
The new functionality and tools available on Single Rulebook allow users to research, annotate and work with both texts side by side. Interactive rule maps provide cross references between all UK and EU regulation, Q&As, guidelines and opinions, so that users can easily click between and match an existing EU article to the new UK rule.
Wim Nelen, CEO and Founder of Single Rulebook commented:
“Following a challenging transition period for many of our clients in the financial services sector, we are delighted to launch this important new functionality which makes it easier to work efficiently with both the UK and EU regulatory regimes. Our clients can now click straight through from a Regulatory Technical Standard (RTS) in MiFID II through to the corresponding new rule in the FCA Handbook, removing the complexity and reducing the time spent navigating two separate regimes.”
About Single Rulebook
Formed in 2019 and acquired by Kaizen Reporting Ltd in November 2020, Single Rulebook is a software solution that lets firms search, share and manage the multitude of complex regulatory rules on a single digital platform. The solution offers firms a search and navigation functionality with dynamic rule maps that set out visual guidance on interdependent regulations and the correlations between the various regulatory rules. The software allows you to integrate and coordinate a firm’s handling of regulations by many different people in order to make their approach consistent. In addition Single Rulebook can be integrated into a firm’s existing policies, systems and controls.
For more information, please contact James Dunseath, Communications Advisor, on +44 (0) 7557 955 795 or firstname.lastname@example.org
Single Rulebook Talks to the Financial Conduct Authority and the Dutch Authority for the Financial Markets
We were delighted to host Stephen Hanks and Matthijs Geneste from the Financial Conduct Authority (FCA) and Dutch Authority for the Financial Markets (AFM) on 17th February. The session, moderated by Wim Nelen of Single Rulebook, centred on the evolution of the UK and EU rulebooks in a post-Brexit world and both a recording and transcript of the session are available.
Aimed at Legal and Compliance professionals, the webinar covered the principle of working with dual rulebooks across two regulatory regimes and how they relate to each other. Importantly, for those working with regulatory text on a daily basis, the discussion also included the practicalities of locating existing Level 1 regulation, Level 2 delegated acts and Level 3 guidance from ESMA with the corresponding regulatory text in the new UK Handbook.
Despite the added complication of Covid-19, the Brexit transition, including the preceding preparations, contingency plans and the increase in regulatory approvals of firms by EU regulators, went smoothly. And so now, regulated firms are asking the question what next; what direction will the UK and EU rulebooks take over the coming 12-18 months? While it is very likely that there will be changes by ESMA to Q&As and Guidelines, how aligned will the UK rules remain in future and is the US-EU model of equivalence one that can be replicated for the UK and EU? While some of these matters are yet to be determined, we discuss them all in our discussion with the FCA and AFM.
Single Rulebook is bringing together senior policy experts from the UK and Dutch regulators to discuss how they see the respective UK and EU rulebooks evolving post Brexit.
Wednesday 17th February
14:00 GMT / 15:00 CET
- Stephen Hanks, UK Financial Conduct Authority (FCA)
- Matthijs Geneste, Dutch Authority for the Financial Markets (AFM)
Wim Nelen, CEO and Founder, Single Rulebook
The webinar is aimed at legal and compliance specialists and will focus on the practicalities of working with two rulebooks in a dual regulatory regime as well as the high level evolution of the UK and EU rulebooks going forward.
Regulated firms are now complying with two sets of rules across the EU and UK. In many cases, professionals are still getting up to speed with matching existing obligations to the new rulebook.
We will discuss how the rulebooks relate to each other and how they may evolve.
Participants are invited to submit topic suggestions ahead of the event: email@example.com