DASH 360R certified for U.S. regulatory capital calculations, SOC 1 Type II

Rick Steves

DASH 360R helps broker-dealers with U.S. regulatory capital calculation and reporting compliance

DASH Regulatory Technologies has announced its SaaS-based DASH 360R platform has received its SOC 1 Type II attestation.

The audit was completed by a “Big Four” global accounting firm under the attestation standards established by the American Institute of Certified Public Accountants (AICPA).

DASH 360R helps broker-dealers with U.S. regulatory capital calculation and reporting compliance. The SOC 1 Type II process addresses the needs of broker-dealers and their auditors who rely on the effectiveness of DASH 360R controls.

The platform offers calculation modules that generate key inputs to various regulatory reports: Risk-Based Haircut, Fixed Income Haircut, Repurchase/Reverse Repurchase, Stock Borrow/Loan, Risk-Based Margin, Option Margin Optimizer, Security Allocation Information Engine, and the Supplemental Inventory Schedule System.

Broker-dealers are required by the SEC and FINRA to maintain specified levels of capital. In order to do so, brokers must have the ability to calculate, on an intra-day basis, their capital charges, which is one of the most significant back-office operational challenges faced by brokers and clearing firms.

Venu Palaparthi, DASH Regulatory Technologies’ Managing Director, said: “Following the acquisition of LDB Consulting in 2017, DASH made a strong commitment to updating and modernizing the LDB system. In furtherance of that objective, we implemented the cloud-enabled DASH 360R version, which can be accessed via the web. During 2020, the pandemic-induced remote work environment provided an impetus for adoption of the 360R suite. Simultaneously, we doubled down on our investment in DASH 360R by embarking on a SOC 1 Type II independent attestation. We are confident that the in-depth SOC 1 Type II attestation provides additional comfort to our users regarding the effectiveness of our controls, quality of our calculations and the security of user information within 360R and builds on the trust that our customers place in the calculations.”

Both SOC 1 Type I and Type II reports allow user auditors to perform critical risk assessment procedures and understand how the organization system works to achieve goals set to serve customers. The report also delivers an opinion on the fairness of your system and the design of the controls.

The Type II report adds design and testing of the controls over a period of time, which is typically six months and describes the testing performed and the results. It covers more time and a more thorough investigation of the firm’s design and processes.

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