Wolters Kluwer Financial Services, a regulatory compliance and risk management business, has acquired Spring Programs, an independent provider of financial regulatory reporting solutions in the UK banking market. Wolters Kluwer is acquiring Spring Programs through its FRSGlobal business, which provides a unified regulatory reporting and risk management solution for financial organisations across the globe.
Spring Programs provides full reporting templates and high-level input and delivery mechanisms to UK regulators. The acquisition will enable the combined company to help more financial organisations better meet intensifying liquidity and stress testing requirements in the UK.
“The introduction of the FSA [Financial Services Authority] liquidity regime with mandatory stress testing has begun to change the regulatory reporting landscape dramatically across the UK,” said Steve Husk, chief financial officer (CEO) of FRSGlobal. “Together with Spring Programs, we can provide the most comprehensive financial risk and reporting solutions for UK financial firms of all sizes.”
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