The company was ‘highly commended’ for making software that automates the detection of employee conflicts of interest and provides real-time insights to supervisors to guard against misconduct risk
StarCompliance has been named a winner in the Regulation Asia Awards For Excellence 2020—being formally recognized for advances in conduct risk management.
“Given the increased focus on financial sector misconduct in recent years, there is an increasing need for firms to be able to monitor employee activities and guard against risks”
The awards program is held each year to call out companies that have shaped the regulatory landscape in the Asia-Pacific region—the companies that help ensure the highest compliance standards are upheld in the financial industry. This year’s awards program—the third annual Regulation Asia Awards For Excellence—saw 194 submissions. Star was “Highly Commended” in the hotly-contested category for Culture and Conduct Risk Management in an online ceremony, held 15 December 2020.
StarCompliance develops configurable compliance software for the financial services industry, supporting a global client base across more than 83 countries. The company’s mission is to make compliance simple and easy by helping financial firms meet the challenges of regulatory compliance. Star’s employee conflicts of interest monitoring platform is scalable and easy-to-use for employees at all levels of an organization—compliance professionals, employee supervisors, and end users—and helps firms reduce risk, gain efficiencies, and drive adoption around their employee compliance programs. The STAR Platform is also capable of monitoring and managing inside information, wall crossing approvals, restricted lists management, and flagging potential insider trading cases for further investigation.
“We are extremely proud to be formally recognized in the area of culture and conduct risk management,” said Jennifer Sun, CEO of StarCompliance. “The entire Star team deserves recognition for this award. We’ve grown and transformed so much over the last couple of years: 2020 in particular. Our ability to adapt and pivot through the COVID-19 crisis has led to exceptional results this past year.”
Culture and conduct risk have come into stark focus in Asia Pacific in recent years, prompting financial institutions to seek out solutions to help them mitigate the risks associated with employee behavior. The need to monitor employee activity has only become more important amid the COVID-19 pandemic, as firms are less able to supervise staff directly due to so many of them working remotely. “Given the increased focus on financial sector misconduct in recent years, there is an increasing need for firms to be able to monitor employee activities and guard against risks,” said one judge on the Regulation Asia awards panel. “StarCompliance has demonstrated deep domain expertise, and provides compliance officers the tools they need to ensure they can manage risk effectively and with confidence.”
In early 2020, StarCompliance formally expanded its presence in the Asia Pacific region with a new office in Hong Kong and dedicated staff to support regional clients. In 2021, a continued focus will be the further development of Star’s data and analytics capabilities. “Through a challenging year, we not only continued to deliver the service our clients expect and deserve, we also continued to invest in product development and pushed forward and innovated,” said Quincy Tse, Director of APAC for Star. “We’re thrilled to be recognized for our achievements in this key area of compliance in a key region of the world, and look forward to another year of pushing the envelope of risk-mitigation technology.”
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