From the Securities and Exchange Commission’s (SEC) Marketing Rule to undisclosed account monitoring and proprietary information security, COMPLY’s latest additions strengthen compliance programs, reduce risk for financial service firms
COMPLY, the leading provider of compliance software, consulting and education resources for the financial services sector, announced new features, offerings and partnerships to its suite of products.
“Innovation has been and will always be at the heart of everything we do,” said COMPLY President Eric White. “We are continuously looking for feedback from our customers, analyzing industry trends and evaluating new and proposed regulations to ensure we continue to enhance our industry-leading, comprehensive set of compliance solutions so we can help firms meet their needs today and tomorrow.”
COMPLY App Launcher brings seamless integration
The launch of COMPLY in late 2022 brought new opportunities for existing ComplySci, RIA in a Box, National Regulatory Services (NRS) and illumis customers, all of whom can now access a wide range of resources from across the merged organization. The COMPLY App Launcher, released in December, enables seamless navigation through its core platforms with a single sign-in process.
Intapp partnership adds to comprehensive offerings
ComplySci and Intapp’s recently announced partnership aligns ComplySci’s ability to record, monitor and report on employee personal trading activities with DealCloud and Intapp Conflicts. This allows compliance teams to pinpoint firm and individual-based conflicts, record actions and document resolutions. Key benefits for professional and financial services firms include:
- Holistic search functionality, reducing the potential for missed conflicts or improper activities.
- A comprehensive history and audit trail of conflict checks, which reduces the risk of penalties.
- A configurable system to ensure proper conflict checks and approvals.
- Streamlined requests for conflict checks to increase efficiency, improve user experience and provide deeper visibility into checks, statuses and next steps.
Black Box Firm Trade API provides additional layer of proprietary data protection
ComplySci’s newest capability enables institutional asset managers to maintain compliance without revealing proprietary firm trade data and strategies. This feature allows clients to send firm trade data at the security level to the ComplySci Platform in bulk through an API, which is deleted once results are compiled.
Undisclosed Account Alerts reduces risk and protects against the unknown
Undisclosed accounts can be a common issue for firms with many employees and their corresponding accounts. ComplySci’s Undisclosed Account Alerts capability addresses this problem by proactively identifying brokerage accounts employees have not disclosed, through direct access to more than 200 broker feeds.
Compliance solutions for small- to medium-sized businesses enhance cybersecurity efforts, provide communications archiving and track vendor due diligence
A suite of newly integrated capabilities available on both the ComplySci Platform and MyRIA Compliance Platform from RIA in a Box enhances cybersecurity protocol, provides employee communications (archiving and review)Â and tracks vendor due diligence for small- and medium-sized firms.
Marketing review capabilities offer checklist for alignment with SEC Rule 206(4)-1
With the Marketing Review modules on the NRS ComplianceGuardian Platform and the RIA in a Box MyRIACompliance Platform, firms can be sure their marketing materials comply with the new ruling. Featuring in-depth checklists to walk teams through a review, the marketing review capabilities ensure firms are aligned with the SEC’s Rule 206(4)-1, better known as the Marketing Rule, which went into effect last spring.
“When ComplySci acquired RIA in a Box, NRS and illumis in late 2021, our goal was to expand our customer offerings by integrating each firm’s complementary solutions and resources,” said White. “We are incredibly thrilled to see the results of this work start to come to fruition as we begin 2023 with a comprehensive suite of solutions and resources, which underscore our position as an industry leader.”
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