Wolters Kluwer Invited to Bank of England Roundtable on the Resolvability Assessment Framework Package

LONDON–(BUSINESS WIRE)–Wolters Kluwer’s Finance, Risk & Reporting (FRR) business has been
invited to take part in an industry roundtable, organized by the Bank of
England, which will discuss proposals designed to ensure U.K. banks are
accountable for their own resolvability – the Resolvability Assessment
Framework (RAF).

The roundtable takes place today and includes Partner level participants
from law firms, consultancies and accounting firms. Wolters Kluwer is
the sole technology provider taking part in the event and will be
providing expertise relating to regulatory reporting implications.

Consisting of two consultation papers, the Bank of England and
Prudential Regulation Authority (PRA) published the RAF package in
December 2018. An important step in the Bank’s commitment to Parliament
that major U.K. banks will be fully resolvable by 2022, the package is
designed to make resolution more transparent, better understood and more
successful by creating a common assessment framework across all firms.

Representing Wolters Kluwer at the roundtable will be Nicos Kynicos,
Product Manager for Regulatory Reporting, U.K., Ireland and Nordics at
Wolters Kluwer FRR.

The decision to take part in the event is part of Wolters Kluwer’s
ongoing commitment to share its regulatory insights with regulators and
the industry as a whole. “This advisory roundtable provides a useful
opportunity to hear directly from influential thought leaders that are
contributing to this important subject for the U.K.’s banking sector,”
commented Nicos. “The approach and objectives of the RAF are certainly
welcome. It makes absolute sense to internalize the externalities
associated with failure of major financial institutions. I look forward
to discussing the wider implications of the package and hearing what the
Bank and other experts believe to be the key areas for focus in the
proposals.”

Wolters Kluwer FRR, which is part of the company’s Governance, Risk &
Compliance division, is a global market leader in the provision of
integrated regulatory compliance and reporting solutions. It supports
regulated financial institutions in meeting their obligations to
external regulators and their own board of directors.

Wolters Kluwer FRR receives frequent independent recognition of its
excellence and innovation. In mid-2018, Risk
magazine awarded the company its coveted Regulatory Reporting System of
The Year Award
and Central
Banking
magazine recently named OneSumX for Regulatory Reporting its
Best Technology Solution For Regulatory Compliance
. Wolters Kluwer
FRR is also this year’s Category
Winner for Regulatory Reporting in the annual RiskTech100®
report
. This comprehensive study of the world’s leading risk and
compliance technology companies is compiled by Chartis Research.
Notably, this is the seventh time in eight years that Wolters Kluwer FRR
has achieved this honor.

About Wolters Kluwer Governance, Risk & Compliance

Governance, Risk & Compliance (GRC) is a division of Wolters
Kluwer
, which provides legal and banking professionals with
solutions to ensure compliance with ever-changing regulatory and legal
obligations, manage risk, increase efficiency, stay competitive and
produce better business outcomes. GRC offers a portfolio of
technology-enabled expert services and solutions focused on legal entity
compliance, legal operations management, banking product compliance, and
banking regulatory compliance.

Wolters Kluwer (AEX: WKL) is a global leader in information services and
solutions for professionals in the health, tax and accounting, risk and
compliance, finance and legal sectors. Wolters Kluwer reported 2017
annual revenues of €4.4 billion. The company, headquartered in Alphen
aan den Rijn, the Netherlands, serves customers in over 180 countries,
maintains operations in over 40 countries and employs 19,000 people
worldwide.

Contacts

Paul Lyon
Director of Global Corporate Communications, Banking &
Regulatory Compliance
Governance, Risk & Compliance
Wolters
Kluwer
Office +44 20 3197 6586
Paul.Lyon@wolterskluwer.com