Qomply, a regulatory technology firm specialising in transaction reporting accuracy and data governance, has opened a new office in Hong Kong. The strategic expansion strengthens the firm’s presence in the Asia Pacific (APAC) region at a critical time, as transaction reporting requirements are being extensively rewritten and supervisory scrutiny becomes increasingly data-led.
This latest move builds on Qomply’s expansion into the United States last year to support Commodity Futures Trading Commission (CFTC) reporting obligations, reflecting a growing industry demand for on-the-ground support in multi-jurisdictional reporting programmes.
The APAC region is currently experiencing one of its most intensive transaction reporting change cycles in a decade. Extensive over-the-counter (OTC) derivatives reporting reforms have already rolled out in Australia under the Australian Securities and Investments Commission (ASIC) and in Singapore under the Monetary Authority of Singapore (MAS). Hong Kong implemented its own enhanced OTC derivatives reporting requirements on 29 September 2025, with transition work expected to continue heavily throughout 2026.
In parallel, Hong Kong’s Fintech 2025 Strategy is accelerating the broader digitisation of financial services. This initiative is raising the bar for scalable, well-controlled reporting operations capable of keeping pace with both evolving technical standards and intensifying supervisory focus.
Moving from implementation to enforcement
For many financial firms, this complex transition involves running parallel reporting systems and addressing legacy positions, which is currently stretching internal reporting teams and exposing critical gaps in data lineage and oversight. As these key reforms go live, regulatory attention is rapidly shifting away from simply interpreting new rules toward demanding proof that operational controls actually work in practice.
Once supervision shifts from guidance to closer review, supervisors across multiple jurisdictions are consistently identifying the same reporting weaknesses. These common operational failures include missing submissions, severe data inaccuracies, late reporting, and generally weak governance coupled with slow remediation efforts.
The end of ‘quiet’ regulation
Michelle Zak, managing director at Qomply, highlighted this shifting regulatory tone. She noted that the era of quiet regulation in the Asia Pacific region is officially ending. Following the recent regulatory rewrites from the HKMA and MAS, Qomply is observing a clear shift toward deeper data quality reviews and closer regulatory scrutiny, mirroring the strict enforcement environments firms have already experienced in North America and Europe. Zak warned that for organisations managing reporting across multiple jurisdictions, relying on a patchwork approach to compliance is becoming increasingly difficult to defend.
As enforcement actions become more heavily driven by data, financial firms are under mounting pressure to evidence auditable reporting frameworks and strong control coverage. Regulators are demanding clear accountability while pushing firms to reduce their reliance on manual remediation and decentralised workflows that inherently weaken data assurance. Qomply’s new Hong Kong office aims to support these firms directly as they work to strengthen their governance practices and improve overall reporting integrity across complex, multi-jurisdictional regimes.
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