Compliance Management Archives

Licensing Technology and Evolving Expectations

Less That Does More The financial services industry expects dramatically more from the technology that supports it. Once paper-based, systems are now a single application with a frictionless experience for users. The best licensing and registration operations have the ability to aggregate real-time data from multiple sources, provide straight-through processing for a host of functions, and support multiple channels. Intuitive and Interactive Just five years ago, firms said agents were resistant to technology and still preferred paper. Today, that has completely changed. Agents and advisers want interactive systems that have to be online, intuitive, and completely frictionless. They have a […]

Business Process Automation (BPA) v. Robotic Process Automation (RPA): Which is best for L&R Operations?

BPA Drives L&R Efficiency For many the financial services industry, there can be confusion between BPA and RPA. Business process automation, known as BPA, has proven most effective at driving efficiency for licensing and registration operations. Robotic process automation, or RPA, is often seen as the ultimate enabler of efficiency, which is true in other applications. Here, we explain the difference. Process Management v. Saving Keystrokes Robotic process automation (RPA) replicates human keystrokes in a repeatable process, such that a bot enters data in fields on a screen to create records, and in some cases, completes a transaction. In short, […]

RegEd Named to 2023 RegTech 100 as Leading Innovator by FinTech Global

The annual list identifies the world’s most innovative providers in the regulatory technology market that are helping financial institutions address their most pressing compliance and risk management challenges. RegEd, the leading provider of regulatory compliance and credentialing solutions for the financial services industry, has announced that it has achieved placement in the 2023 RegTech 100 list. The list, presented annually by FinTech Global, recognizes the most groundbreaking companies in the RegTech space. “We are thrilled to be recognized as one of the leading innovators in our industry,” said John M. Schobel, CEO & Founder of RegEd. “RegEd is committed to […]

Insurance Compliance Lifecycle: A Closed-Loop Process to Managing Regulatory Change Successfully

Each year, thousands of regulatory changes are made that could materially affect the insurance industry, and the number is rising. In any given year, more than 40,000 regulations—including legislative bills, administrative rules, bulletins, advisories, alerts, directives, and interpretive guidance—must be vetted to determine if they affect the business of insurance. According to RegEd’s internal research, there were about 2,400 new or revised state regulations enacted or adopted that directly affected the insurance industry in 2013. In 2021, there were over 3,300, an increase of almost 40%. As the number escalates, new regulations themselves are becoming more complex, especially around risk […]

Market Conduct Exams: Best Practices to Ensure a Smooth Process and Stay Under the Radar for Future Examinations

By David Sheehan and Rebecca Vasquez, Esq. For an insurance company, the key objective of a market conduct examination (MCE) is to avoid it. As regulators pay more attention to problem areas, behaving well in the marketplace in the first place mitigates the chances of being examined. The No. 1 defense against an unscheduled market conduct examination is a documented and well managed compliance program, and companies that follow a few best practices find they can stay under the regulatory radar, and when they are selected for examination, they can be fully prepared to make it go smoothly. 1. Know […]

RegEd Appoints Ponce Kenton as Chief Technology Officer

Technology strategist and product development veteran to drive the continued advancement of RegEd’s enterprise compliance and credentialing solutions RegEd, the market-leading provider of enterprise regulatory compliance solutions to banks, broker-dealers, insurance companies and brokers, is pleased to announce its appointment of Ponce Kenton to the role of Chief Technology Officer (CTO). In this role, Kenton will direct RegEd’s technology strategy and drive continuous innovation across RegEd’s Compliance, Licensing and Credentialing solutions portfolio. “As client expectations for technology-enabled efficiency continue to evolve, a chief technology officer that is an innovation agent with highly disciplined execution is critical to our continued success,” […]

RegEd to Participate in 2022 SILA National Education Conference

The Diamond Sponsor will exhibit its next-generation Agency Contracting solution, which delivers a single solution for all distribution channels and enables rapid onboarding of agencies and agents to speed time to market. RegEd, the leading provider of compliance technology solutions to the financial services industry, including Xchange, the market-leading Enterprise Licensing and Registration solution, is proud to be a Diamond Level Sponsor of the 2022 SILA National Education Conference, held from Oct. 23-26, in Seattle, Washington. The conference provides more than 30 substantive sessions and an educational forum for attendees to address current industry challenges, discuss licensing and registration best […]

RegEd to Showcase Innovative Technology for Advertising Review at 2022 FINRA Advertising Regulation Conference

Attendees will have the opportunity to learn about the industry’s leading enterprise advertising compliance review solution, powered by advanced capabilities that integrate AI technology to drive speed to market and reduce risk. RegEd, the leading provider of compliance technology solutions to insurance companies, broker-dealers and other financial services firms, is pleased to announce its participation at the FINRA Advertising Regulation Conference in Washington, DC, Oct. 20-21, 2022. FINRA’s Advertising Regulation Conference offers a comprehensive agenda designed for new and experienced communications compliance professionals. Industry and regulatory speakers gather at the conference to facilitate interactive, forward-looking discussions on current practices, policies, […]

RegEd to Exhibit Enterprise Compliance Solutions at 2022 NSCP National Conference

Attendees will have the opportunity to learn about the industry’s leading enterprise advertising compliance review solution, powered by advanced capabilities that integrate AI technology to drive speed to market and reduce risk. As the leading provider of regulatory technology solutions to the financial services industry, RegEd is a Platinum MemberAlly Sponsor and will exhibit its enterprise compliance platform at the 2022 National Society of Compliance Professionals (NSCP) National Conference in National Harbor, Md., on Oct. 17-19. The annual NSCP National Conference offers dozens of sessions covering topics that are relevant to broker-dealers, investment advisers, private funds, and investment companies, and has been […]

Highlights From the SEC Municipal Advisor Risk Alert

The SEC has provided a Risk Alert to remind municipal advisors of their obligations and to raise awareness among Municipal Advisors (“MAs”) of the most often cited deficiencies and weaknesses observed in recent MA examinations. Many of the same areas were covered in its 2017 Risk Alert, indicating that the SEC continues to note similar deficiencies as it did 5 years ago. Inaccurate or Incomplete Registrations and Filings The SEC found significant overlap in registration and filing deficiencies when compared to those identified in its 2017 Risk Alert. Among the inaccurate or incomplete information filed on SEC Forms MA and […]

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