Shane Flatman Appointed to Fund Recs APAC Role

Following its entry into the Australian market in 2022, regulatory alignment platform Fund Recs has appointed Shane Flatman as its Strategy and Business Development Director, APAC to expand its footprint in the region.

An experienced professional in technology-for-funds, Shane has specialised in operational and product/sales strategy roles over the past 15 years with a robust background at Broadridge and Confluence Technologies.

Noting the upcoming October deadline for ASIC’s game-changing updates to over the counter (OTC) derivative transaction reporting, Shane says that while these updates promise to turbocharge these areas, they also come with a laser focus on reporting accuracy and may result in hefty penalties for breaches.

“Working with many clients through the latest changes in Europe, EMIR has taught us some valuable lessons that can be applied to the Australian market,” he says. “The need for enhanced data quality and accuracy, the timely and integrated management of that data and customised reporting requirements have forced companies to adapt their operating models, systems, and processes to ensure their data governance and that oversight is rock solid and comprehensive. This includes clear data ownership, accountability, and procedures for data quality management that are reviewed and audited regularly.

“The October deadline is fast approaching. Australian firms who participate in OTC derivative trading must act now to ensure compliance and mitigate the risk of reputational damage and potential substantial fines. We are ready to support firms through this transition, offering proven solutions and expert guidance to navigate the complexities of the new regulatory landscape,” he adds.

Tiarnan McCaughan, Senior Market Advisor, Financial Services, Enterprise Ireland Australia/New Zealand, the Irish Government’s trade and innovation agency, welcomed the company to Australia. “Fund Recs expertise and innovative solutions are precisely what the Australian financial market needs to navigate these regulatory changes successfully, having gone through the same change exercise across the world. We look forward to the positive impact they can have on the market as they help organisations successfully navigate this large-scale change,” he says.