RegEd Announces Regulatory Exam Management Capabilities for CODE Enterprise Platform

RegEd Announces Regulatory Exam Management Capabilities for CODE Enterprise Platform

RegEd, a leading provider of compliance technology solutions for the financial services industry, has announced the expansion of the Comply On Demand Enterprise (CODE®) platform to address the multitude of requirements associated with undergoing regulatory exams. Regulatory Exam Management leverages CODE’s enterprise workflow, task management, document management and reporting capabilities to enable firms to drive efficiency throughout the end-to-end exam process.

 “Undergoing regulatory examinations can be costly and time-consuming for financial services firms. With the pace of regulatory change accelerating, the increasing frequency and broadening scope of exams represent significant risk and a drain on resources for firms that fail to manage the process effectively,” commented Debra Freitag, Chief Strategy Officer at RegEd. “With CODE, firms can embed a streamlined, repeatable methodology for managing exams, from pre-exam preparation to fulfillment of post-exam remediation requirements.”

Regulatory Exam Management installs best practices and drives efficiency across all exam management processes, enabling firms to significantly reduce the time and resource commitment required during a regulatory exam. The solution delivers a highly configurable, workflow-enabled framework that facilitates management of data requests, examiner communication, remediation and other key elements of the exam lifecycle. CODE enables exam managers to centrally coordinate exam activities across the organization and provides a full audit trail of the firm’s remediation actions.

CODE enterprise platform capabilities provide robust workflow and task management, while integrated regulatory intelligence delivers actionable, relevant compliance requirements. The combination enables financial services firms to efficiently identify, track and fulfill compliance obligations, dramatically reducing the risk of non-compliance and related consequences.  Other CODE modules include Market Conduct Exam Management, Regulatory Change Management, Policies and Procedures Management, Consumer Complaint Management and Incident Management. CODE is fully configurable, scalable and extendable to enable companies to cost-effectively build on the initial investment as their needs expand and evolve.

RegEd to Feature Solutions that Address Critical Compliance Challenges for the Banking Industry at ABA Regulatory Compliance Conference 2016

RegEd to Feature Solutions that Address Critical Compliance Challenges for the Banking Industry at ABA Regulatory Compliance Conference 2016

RegEd, the leading provider of compliance technology to the financial services industry, will highlight a set of enterprise compliance solutions at the upcoming ABA Regulatory Compliance Conference 2016, held June 12-15 in San Diego, CA. The featured solutions enable banks to efficiently address critical compliance challenges, including several key areas of regulator focus.

“RegEd has a long and proven track record as an enterprise technology provider to leading broker-dealers, investment advisors and insurance companies,” commented John Schobel, RegEd Chief Executive Officer. “We’re now focused on helping banks meet compliance challenges in many of the same areas that have enabled us to establish trusted partnerships with more than four hundred enterprise clients in the financial services industry.”

During the conference, RegEd representatives will highlight enterprise solutions for managing employee conflicts of interest, regulatory change, policies and procedures, and regulatory exams:

Employee Conflicts of Interest Management

RegEd’s Conflicts of Interest Management solution suite enables firms to seamlessly monitor, identify and remedy conflicts of interest and code of conduct issues among the firm’s employees and supervised individuals. The solution comprises five modules which can be implemented individually or together: Gifts and Gratuities, Outside Business Activities, Political Contributions, Personal Securities Account Management, and Conflicts of Interest Questionnaires.

Regulatory Change Management

Regulatory Change Management is a fully integrated solution that streamlines the end-to-end process of managing regulatory change throughout the organization. CODE facilitates a workflow-enabled, closed loop process that provides firms with everything they need to be aware of, comply with and demonstrate compliance with all relevant regulatory changes. 

Policies and Procedures Management

Policies and Procedures Management provides an enterprise workflow, work-process and task management solution that enables comprehensive, end-to-end administration and oversight of all elements of the firm’s policies and procedures. This includes the policy approval process, policy distribution, attestation management, testing program management and deficiency and case management. The solution installs a central control center for all policies and enables the firm to establish discreet policies based on role, function, department and entity.

Regulatory Exam Management

Regulatory Exam Management enables financial services firms to effectively prepare for and efficiently manage the myriad of tasks undertaken during the course of a regulatory examination. The solution embeds a streamlined, repeatable methodology for managing exams, from pre-exam preparation to fulfillment of post-exam remediation requirements, enabling firms to significantly reduce the time and resource commitment required during a regulatory exam.

About RegEd

RegEd is a leading provider of compliance technology solutions with relationships with more than 400 enterprise clients, including 80% of the top 25 broker-dealers and top 25 insurance companies. Established in 1994 by former regulators, the company is a recognized industry authority and has created the standard of excellence for rule-based and content-driven compliance automation for insurance companies, investment advisors and broker-dealers.  RegEd solutions drive new levels of operational efficiency and enable firms to cost-effectively comply with regulations and mitigate risk. 

RegEd Completes 3 Million Submissions on Compliance Questionnaires Solution

RegEd Completes 3 Million Submissions on Compliance Questionnaires Solution

RegEd, the leading provider of compliance and risk management technology to broker-dealers and other financial services firms, today announced that its Compliance Questionnaires solution has achieved the milestone of processing 3 million submissions, enabling its broker-dealer clients to efficiently manage their compliance programs.  Today, Compliance Questionnaires is used by more than 400 enterprise clients, including 80% of the top 25 broker-dealers.

RegEd’s Compliance Questionnaires is an enterprise application and part of RegEd’s Compliance and Audit Management platform.  As a core module addressing FINRA compliance regulation, Compliance Questionnaires leverages the platform’s robust workflow engine, enabling firms to design complex workflows that mirror their best practices, and includes multiple reviewer, approval and sign-off stages. In addition, the solution seamlessly integrates with FINRA WebEFT, enabling registered representatives to affirmatively attest to the accuracy of their U4 data on file.

“Integral to maintaining a strong compliance program is the ability to identify and analyze deficiencies and outliers across the representative population and report on the results,” stated Ann Robinson, Senior Vice President, RegEd, and a former senior compliance officer at a large broker-dealer. “For firms with hundreds or thousands of registered representatives, readily identifying and addressing deficiencies before they cause the firm harm is akin to looking for the proverbial needle in the haystack.”

RegEd’s Compliance Questionnaires provides a robust set of integrated, workflow-driven enterprise tools that enable firms to initiate, distribute and track annual compliance questionnaires required by FINRA and address and report on critical compliance deficiencies before risk materializes. A fully configurable solution, Compliance Questionnaires can be specifically tailored to meet firm requirements and enables firms to be fully responsive to document requests from internal stakeholders and regulators, demonstrating a culture of compliance.

"RegEd solutions are implemented in hundreds of broker-dealers, serving hundreds of thousands of advisors, providing us unique insight into the specific challenges the industry faces on a daily basis,” stated John M. Schobel, CEO and Founder, RegEd. “Our clients depend on RegEd’s Compliance Questionnaires solution to reduce non-compliance gaps, eliminate time-consuming and suboptimal processes, and maintain good standing with FINRA regulations.”

Schobel continued, “Achieving the milestone of 3 million compliance questionnaire submissions illustrates the dependability and effectiveness of RegEd solutions. Implementing innovative technology that keeps our clients out in front of increasing compliance demands is a key driver at RegEd. We continue to look for ways to leverage technology to pinpoint potential risk and enable more efficient operations.”

About RegEd 

RegEd is a leading provider of compliance technology solutions with relationships with more than 400 enterprise clients, including 80% of the top 25 broker-dealers and top 25 insurance companies. Established in 1994 by former regulators, the company is a recognized industry authority and has created the standard of excellence for rule-based and content-driven compliance automation for insurance companies, investment advisors and broker-dealers. RegEd solutions drive new levels of operational efficiency and enable firms to cost-effectively comply with regulations and mitigate risk.

Leading GRC Analyst Evaluates RegEd’s CODE Enterprise Platform for Regulatory Change Management and other Core Compliance Functions

Leading GRC Analyst Evaluates RegEd's CODE Enterprise Platform for Regulatory Change Management and other Core Compliance Functions

RegEd, a leading provider of compliance technology to the financial services industry, has published an Analyst Report from GRC 20/20 Research, an independent analyst of governance, risk management, and compliance solutions (GRC). The report, authored by Michael Rasmussen, President of GRC 20/20, offers an objective evaluation of the CODE enterprise platform based on an extensive technical capabilities assessment and in-depth interviews with RegEd clients. The report describes CODE as delivering "an integrated and harmonized architecture to manage compliance in the context of today’s demanding requirements," and commends RegEd’s subject matter expertise as indicative of an “intimate understanding of regulatory change, particularly for financial services.”

Remarking on the report, Mr. Rasmussen said, “Firms across the financial services sector face a daunting challenge in managing regulatory change. The volume of new and changed rules and regulations continues to grow at an unprecedented rate, while assessing the impact each change will have on the business becomes more complex.” Rasmussen continued, “Against this backdrop, firms that rely on a manual, document-centric approach to monitoring and managing regulatory changes are bound to fall short. Organizations must have a systematic process for managing regulatory changes and a holistic view of compliance that extends to areas including policies and procedures, regulatory exams, and incidents and complaints. Based on our evaluation, CODE provides a framework for managing these critical compliance processes and enables RegEd clients to improve efficiency and manage non-compliance risk.”

The report offers a distillation of RegEd customer insight, including the factors that typically result in selection of the CODE platform. “Most RegEd clients that GRC 20/20 has researched and interviewed moved to the CODE solution because they found their manual, document-centric approaches consumed too many compliance resources, and, as a result, compliance obligations were slipping through cracks in the continuous barrage of regulatory change. Other organizations moved to CODE because their existing compliance management solutions were too rigid and lacked the agility to adapt or could not address the entire compliance process,” the report states. It continues, “RegEd clients choose the CODE platform for its workflow and task management capabilities, price, accuracy of regulatory information, and ease of use, which helps drive ready adoption across the organization.”

In the report, Mr. Rasmussen outlines the core capabilities of CODE that facilitate management of regulatory change, policies and procedures, regulatory exams and incidents/complaints. Among those cited as “foundational capabilities” are the solution’s high degree of configurability, integrated proprietary regulatory intelligence, sophisticated workflow and task management, enterprise reporting and dashboards, audit trails, document management, and robust functionality supporting compliance questionnaires, assessments and surveys.

Based on in-depth interviews with RegEd clients, the report summarizes the benefits that have been realized by firms as a result of utilizing the CODE platform. Among other outcomes, the author cites significant efficiencies in time gained through automation of workflow and tasks, improved accuracy and uniformity of compliance information, enhanced accountability and ownership of compliance responsibilities and streamlined relevance/impact analysis of regulatory changes.  In addition, RegEd clients indicated CODE enables increased transparency and visibility into the status of compliance tasks and audit trails that support a defensible, evidence-based approach to compliance that regulators demand. The report concludes, “GRC 20/20 finds that RegEd CODE provides the greatest value in managing the lifecycle of compliance information across regulations, policies, incidents, and exams. As many organizations respond to growing regulatory requirements exposure they are finding the need for a solution to automate the lifecycle of compliance across these areas.”

“We’re happy to have the value that CODE delivers validated by RegEd’s customers and further confirmed by independent research,” said Debra Freitag, Chief Strategy Officer at RegEd. She continued, “As organizations move beyond manual approaches to compliance and look to reinforce their enterprise GRC architecture, we’re confident that CODE represents a solution that uniquely combines deep domain expertise with robust enterprise technology, providing unparalleled benefits in compliance management efficiency and effectiveness.”

 
About RegEd

RegEd is a leading provider of compliance technology solutions with relationships with more than 400 enterprise clients, including 80% of the top 25 broker-dealers and top 25 insurance companies. Established in 1994 by former regulators, the company is a recognized industry authority and has created the standard of excellence for rule-based and content-driven compliance automation for insurance companies, investment advisors and broker-dealers.  RegEd solutions drive new levels of operational efficiency and enable firms to cost-effectively comply with regulations and mitigate risk.

Posts navigation

1 2 3 4
Scroll to top