North American broker-dealer network minimizes risk with Complinet Policy Manager
Broker-dealer network dynamically connects external rules changes to internal policies, and gains shared content and version control between risk and compliance teams
New York, NY – September 15, 2008 — Complinet, the leading provider of web-based dynamic compliance solutions to the financial services industry, has been selected by one of the world’s largest financial services organizations to provide a technology solution to help assure adherence to corporate policies across the business.
Broker-dealers within the North American insurance arm of the company have selected Complinet’s award-winning Policy Manager, a unique enterprise-wide content management and governance system that connects relevant external governing regulations and rules with internal policies and procedures.
Policy Manager will be relied on by more than 5,000 end users and a compliance team of ten to control, connect and share policies transparently across the business.
The decision to implement Complinet Policy Manager was driven by a need to ensure all policies within the broker-dealers are consistent and visible to all individuals within the organization’s risk and compliance functions, with relevant internal processes applied and shared as dictated by changing regulations. The implementation supports requirements from regulator FINRA, crucially including Rule 3012 (Supervisory Control System), Rule 3013 (Annual Certification of Compliance and Supervisory Processes).
Chris Pilling, CEO of Complinet said, “With a focus on financial services, each of our clients face increasing operational burdens with new and changing rules and regulations. It is essential that they have the structure and visibility in place to not only realize the impact of, and relationship between, external regulations and internal policies, but to also ensure an absolute understanding and adherence to those policies.”
Complinet Policy Manager will be used in conjunction with Complinet’s Rulebook service to ensure that the broker-dealers are always up-to-date with all relevant regulation. Complinet Rulebooks is a complete regulatory service that provides financial organizations with dynamic updates to regulations and legislation. Powered by a comprehensive database that tracks breaking and current rules and regulation from across the globe, Complinet Rulebooks provides an ‘always on’ window to past, current and future versions of rules that may impact a business.
About Complinet
Complinet is the leading provider of dynamic and connected risk and compliance solutions to the global financial services industry.
The company’s solutions minimise exposure to risk by providing the information and technology to track and connect live external events, such as regulatory or sanction changes, with internal policy management and screening activities.
Complinet was founded in 1997 and has offices in New York, London, Sydney and Dubai. Every day, industry professionals in more than 1,600 firms across 81 countries rely on Complinet to provide information, analysis and solutions that help them keep pace with changing regulations.
