OREANDA-NEWS. June 16, 2015. Lombard Risk Management plc (AIM: LRM), a leading provider of integrated collateral management, regulatory compliance and reporting solutions for the financial services industry announces that the London branch of Sumitomo Mitsui Trust Bank Limited ("SuMi TRUST") has successfully gone live with Lombard Risk REPORTER for Bank of England / Financial Conduct Authority regulatory reporting.

SuMi TRUST forms the core of Sumitomo Mitsui Trust Group as one of the largest institutional investors and the leading trust bank in Japan.

As a London branch of an overseas bank, SuMi TRUST in London is regulated by the Prudential Regulation Authority and the Financial Conduct Authority and required to submit both statistical and prudential reporting to the Bank of England.  Significant changes are expected from both authorities within the next 12 months namely, European Banking Authority (EBA) Liquidity Coverage Ratio (LCR) in XBRL format, and further complexity is expected to the Bank of England reporting.

SuMi TRUST already uses Lombard Risk REPORTER in Singapore and New York to meet local regulatory demands to the Monetary Authority of Singapore and Federal Reserve respectively.  While SuMi TRUST went through an extensive review of available UK regulatory reporting systems for UK branches, REPORTER was seen as the vendor of choice to provide a longer-term strategic solution to meet multi-country regulatory reporting requirements and ongoing regulatory support.

Cliff Dowton, Head of IT, SuMi TRUST London, said: "We evaluated a number of regulatory reporting systems to meet our UK regulatory reporting requirements. We selected Lombard Risk REPORTER because of its strong track record in the UK and our own success implementing the solution in other overseas locations."

Robert Markham, EMEA Head of Sales Regulatory at Lombard Risk, commented: "We are delighted to have expanded our relationship with SuMi TRUST and that they are now live on Lombard Risk REPORTER in the UK within the agreed timespan and budget. We have seen a considerable increase to the client base in recent months, partly due to a significant number of former rFrame clients who found themselves in a similar situation to SuMi TRUST and took the opportunity to find a strategic solution."