Celent Report on Employee Conduct and Conflicts of Interest in the Financial Services Industry Published

Commissioned by RegEd, the report identifies processes and technology best practices that leading firms employ to reduce risk in today’s environment.

RegEd, the market-leading provider of enterprise compliance solutions to banks, broker-dealers insurance companies, and other financial services firms, is pleased to announce the publication of a new analyst report, “Keeping a Grip on Employee Conduct and Conflicts of Interest,” from research and consulting company Celent.

The report, authored by Neil Katkov, PhD, Head of Risk and Compliance at Celent, provides an overview of the current landscape surrounding employee conduct and conflicts of interest management, as well as the best practices, processes and technology that firms can leverage to optimize compliance and reduce risk.

“Among the greatest challenges faced by financial services firms is the ability to readily identify potential risk among the firm’s employee and registered population, before it causes reputational harm,” stated Neil Katkov, PhD, Head of Risk and Compliance at Celent. “To do so, they need to efficiently and accurately capture the actions and relationships of potentially thousands or even tens of thousands of employees, yet many technology systems do not support the relevant functionality.”

RegEd offers a suite of fully integrated conflicts of interest modules, which enable firms to monitor, identify and remedy conflicts of interest and code of conduct issues among the firm’s employee population and third parties. The suite includes robust questionnaires solutions for managing Outside Business Activities; Gifts, Gratuities and Contributions; and Personal Securities Account Management.

“Conflicts of interest continues to be high on the radar of multiple regulators, and we certainly expect that to continue,” commented John M. Schobel, CEO & Founder of RegEd. “RegEd Conflicts of Interest solutions were developed in collaboration with the nation’s leading financial services firms, with sophisticated capabilities that drive efficiency and significantly reduce risk in this area.”

Mr. Schobel continued,Our motivation for commissioning this report is to provide our clients, and the industry as a whole, with a comprehensive analysis of the key factors at work, and educate on the strategies that firms can apply to overcome the challenges they face.”

About RegEd

RegEd is the market-leading provider of RegTech enterprise solutions with relationships with more than 200 enterprise clients, including 80% of the top 25 financial services firms.

Established in 2000 by former regulators, the company is recognized for continuous regulatory technology innovation with solutions hallmarked by workflow-directed processes, data integration, regulatory intelligence, automated validations, business process automation and compliance dashboards. The aggregate drives the highest levels of operational efficiency and enables our clients to cost-effectively comply with regulations and continuously mitigate risk.

Trusted by the nation’s top financial services firms, RegEd’s proven, holistic approach to RegTech meets firms where they are on the compliance and risk management continuum, scaling as their needs evolve and amplifying the value proposition delivered to clients. For more information, please visit www.reged.com.

About Celent

For over 20 years, Celent has helped senior executives make confident decisions around their technology strategies to execute at scale.

As the financial services industry rapidly evolves, there is more complexity, with new regulations, startups, technologies, and applications to stay on top of and prioritize. Celent helps you connect this ever-changing puzzle. We offer objective advice and clarity, backed by a database of thousands of solutions and award-winning global best practice use cases. With real-life domain expertise, we also guide you through the maze of emerging tech in the pursuit of value.

Our people, data, insights, and relationships form the foundation for you to use Celent to make confident technology decisions in financial services.

RegEd and Essential Edge Compliance Outsourcing Services Announce Joint Webinar on Best Practices in Branch Office Inspection Management

The session will provide a hands-on perspective on effectively conducting branch inspections during COVID-19 and beyond

RegEd, the leading provider of compliance technology solutions for the financial services industry, has announced an upcoming webinar that will be co-presented with Essential Edge Compliance Outsourcing Services, a regulatory and compliance/supervision consultancy. The webinar will be held on Thursday December 3 at 12:00PM EST. Attendees will include senior compliance, risk and audit professionals from the nation’s leading financial services firms.

Maximizing Value from Your Branch Office Inspections During Covid-19 and Beyond: A Hands-on Perspective

Branch office oversight has been significantly impacted by the COVID-19 pandemic, requiring firms to be more adaptable than ever in how they manage this critical process. As regulators continue to expect firms to administer effective programs for monitoring branches and supervised individuals, firms have had to significantly evolve their approach to keep up with changing times.  This presentation will discuss best practices in conducting branch office inspections in an environment that is constantly changing due to the pandemic and compliance technology.

The webinar will feature Sander J. Ressler, Managing Director of Essential Edge Compliance Outsourcing Services, LLC, who will provide an overview of current trends in the industry, ongoing impacts related to the pandemic, and a forward-looking view as to how firms are likely to continue to advance their programs. Essential Edge currently conducts more than 650 branch inspections annually for over a dozen broker-dealers.  Sander draws on more than 30 years of frontline experience with broker-dealers and registered investment advisers, and will share practical insight on what his clients are experiencing, observations from the field, and best practices to streamline the management of branch exams.

Register Now

About RegEd

RegEd is the market-leading provider of RegTech enterprise solutions with relationships with more than 200 enterprise clients, including 80% of the top 25 financial services firms.

Established in 2000 by former regulators, the company is recognized for continuous regulatory technology innovation with solutions hallmarked by workflow-directed processes, data integration, regulatory intelligence, automated validations, business process automation and compliance dashboards. The aggregate drives the highest levels of operational efficiency and enables our clients to cost-effectively comply with regulations and continuously mitigate risk.

Trusted by the nation’s top financial services firms, RegEd’s proven, holistic approach to RegTech meets firms where they are on the compliance and risk management continuum, scaling as their needs evolve and amplifying the value proposition delivered to clients.

About Essential Edge Compliance Outsourcing Services, LLC

Essential Edge Compliance Outsourcing Services, LLC (“Essential Edge”) is a strategic consultancy specializing in compliance and regulatory affairs.  Headquartered in South Florida, and utilizing 10+ seasoned compliance supervision professionals across the country, Essential Edge delivers outsourced branch inspections to Offices of Supervisory Jurisdiction (OSJs) and independent financial advisor practices affiliated with broker-dealers throughout the country.  Essential Edge’s service offerings are designed to rapidly identify and resolve compliance issues in branch office sales and operations for independent broker-dealers before they escalate into expensive and time-consuming issues.  For more information, please visit www.eeoutsourcing.com.

RegEd Appoints Joe DiAngelo as Executive Vice President of Sales

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 Joe DiAngelo to the role of Executive Vice President (EVP) of Sales. In this role, DiAngelo will direct RegEd’s enterprise sales development team to exceed growth objectives.

“Joe brings extensive knowledge of enterprise software and the financial services industry, in combination with a successful track record of coaching sales executives, to RegEd,” said Glen Jasionowski, Chief Revenue Officer at RegEd. “His proven ability to build extremely successful sales organizations in the compliance management software industry will help ensure RegEd’s continued success.”

DiAngelo is an accomplished sales leader with significant experience building and developing high performing sales teams, while increasing revenue and exceeding growth objectives. He joins RegEd from FIS, where he was the Head of Sales for the FIS Protegent line of business for the last 15 years. While at FIS, he successfully helped launch and grow the company into a RegTech market leader. Joe coached sales executives on a disciplined, value-based sales process where his team drove consistent achievement of growth objectives. Over his career, Joe has had the privilege of helping numerous sales executives go on and have incredibly successful sales careers in the industry. 

John M. Schobel, CEO & Founder of RegEd, commented on the appointment, “We’re very excited to have Joe join our team at this exciting point in our growth. His decision to join RegEd speaks volumes about the strength of our position going forward.”

About RegEd

RegEd is the market-leading provider of RegTech enterprise solutions with relationships with more than 200 enterprise clients, including 80% of the top 25 financial services firms.

Established in 2000 by former regulators, the company is recognized for continuous regulatory technology innovation with solutions hallmarked by workflow-directed processes, data integration, regulatory intelligence, automated validations, business process automation and compliance dashboards. The aggregate drives the highest levels of operational efficiency and enables our clients to cost-effectively comply with regulations and continuously mitigate risk.

Trusted by the nation’s top financial services firms, RegEd’s proven, holistic approach to RegTech meets firms where they are on the compliance and risk management continuum, scaling as their needs evolve and amplifying the value proposition delivered to clients. For more information, please visit www.reged.com.

RegEd Compliance Thought Leaders Participate in the 2020 SILA National Education Virtual Conference

RegEd subject matter experts contribute to multiple conference sessions and will be considered for awards in recognition of leadership and service to the industry

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 2020 SILA National Education Virtual Conference, held from Oct. 1-21, 2020.

The conference provides more than 30 substantive sessions and an educational forum for attendees to address current industry challenges, discuss licensing and registration best practices, and build their overall compliance knowledge.

A number of RegEd compliance thought leaders and subject matter experts are participating in sessions. Margie Webber, Governance Chair on the SILA Board of Directors and a Senior Member of RegEd’s Regulatory Affairs Group, is moderating the NASAA / State Securities Regulatory Roundup. Brandi Brown, SVP of Regulatory Affairs at RegEd, is a co-moderator for the Education Open Forum.

Kaitlyn Small, Regulatory Specialist at RegEd, is a Co-Moderator for the Adjusters Open Forum and a guest speaker for the Adjuster Licensing Advanced Pre-Conference Class. Kaitlyn is also nominated for the Robert Kennedy Appreciation Award. The Robert C. Kennedy Award honors an individual who has made an outstanding contribution to SILA and who demonstrates dedication in continuous volunteer service to SILA, in addition to the advancement of the SILA objectives and principles.

On October 5, RegEd hosted a session titled Driving Unparalleled Efficiency in Your Licensing and Registration Operations. This session focused on the advancement of Licensing and Registration technology over the last few years and best practices the most efficient licensing operation centers are employing to enable an entirely new level of efficiency.

About RegEd

RegEd is the market-leading provider of RegTech enterprise solutions with relationships with more than 200 enterprise clients, including 80% of the top 25 financial services firms.

Established in 2000 by former regulators, the company is recognized for continuous regulatory technology innovation with solutions hallmarked by workflow-directed processes, data integration, regulatory intelligence, automated validations, business process automation and compliance dashboards. The aggregate drives the highest levels of operational efficiency and enables our clients to cost-effectively comply with regulations and continuously mitigate risk.

Trusted by the nation’s top financial services firms, RegEd’s proven, holistic approach to RegTech meets firms where they are on the compliance and risk management continuum, scaling as their needs evolve and amplifying the value proposition delivered to clients. For more information, please visit www.reged.com.

RegEd Launches Enterprise Solution that Transforms Managing Gifts and Entertainment Compliance for Financial Services

The only for-purpose technology solution to seamlessly manage the request, approval and reconciliation process while simplifying the user experience for employees and supervised persons

RegEd, the leading provider of compliance technology solutions for the financial services industry, has released an all-new enterprise solution to address the multitude of requirements associated with gifts, gratuities and contributions management. Gifts, Gratuities and Contributions Management (GGC) leverages RegEd’s powerful platform capabilities to enable comprehensive monitoring, workflow-directed task management, real-time alerts to exceptions, and sophisticated hierarchy management to enable firms to drive efficiency throughout the end-to-end tracking of gifts, entertainment, non-cash compensation and political contributions.

 “The SEC, FINRA, state departments of insurance, OCC, FDIC, and other federal regulators, as well as international supervisory bodies, have placed gifts and entertainment management and other conflicts of interest high on the list of topics of focus for regulatory examinations and audits,” commented John M. Schobel, Founder & CEO at RegEd. “To ensure compliance, companies must install organization-wide procedures and technology to enable the efficient review, approval, management and monitoring of gift and entertainment requests against firm-defined thresholds, so that all gifts, regardless of the amount or point of origination, are tracked accurately.”

The solution centralizes the management of submissions and approvals, enabling compliance managers and other stakeholders to holistically monitor the exchange of gifts, gratuities, contributions, and other non-cash compensation, track the preclearance approval process and identify limit violations. Comprehensive reporting and full audit trails provide valuable documentation to satisfy requests from internal stakeholders and regulators.

Gifts, Gratuities and Contributions is part of a fully integrated suite of for-purpose conflicts of interest solutions, which enable firms to seamlessly monitor, identify and remedy conflicts and code of conduct issues among the firm’s employee population and third parties. The solution suite comprises robust questionnaires modules which can be implemented individually or together, including GGC, Outside Business Activities and Personal Securities Account Management.

About RegEd

RegEd is the market-leading provider of RegTech enterprise solutions with relationships with more than 200 enterprise clients, including 80% of the top 25 financial services firms.

Established in 2000 by former regulators, the company is recognized for continuous regulatory technology innovation with solutions hallmarked by workflow-directed processes, data integration, regulatory intelligence, automated validations, business process automation and compliance dashboards. The aggregate drives the highest levels of operational efficiency and enables our clients to cost-effectively comply with regulations and continuously mitigate risk.

Trusted by the nation’s top financial services firms, RegEd’s proven, holistic approach to RegTech meets firms where they are on the compliance and risk management continuum, scaling as their needs evolve and amplifying the value proposition delivered to clients. For more information, please visit www.reged.com.

A Statement From the RegEd Executive Team

A Statement From the RegEd Executive Team

There are times when we must make clear what values we hold and state them clearly, and we feel strongly that this is one of those times. Remaining silent is not an option.

RegEd has always stood for diversity, inclusion and equal opportunity for all.

Intolerance and discrimination have never had a place in our organization or in our communities. We stand with our colleagues and our communities who are hurting right now and have been hurt for centuries, with those who have been murdered, oppressed, or marginalized because of the color of their skin.

We unequivocally support the Black Lives Matter movement. We indisputably stand as resolute allies with people of color – both those in the RegEd community and beyond – as we seek to draw attention to recent and historic atrocities to create change. And we condemn the structure that has enabled those atrocities. We stand with protestors everywhere who seek justice and positive change and we will seek to participate in effecting that change.

RegEd Announces Expansion of Enterprise Compliance Platform with Gifts, Gratuities and Contributions Management

The all-new enterprise solution is the industry’s only for-purpose technology for the submission, approval, tracking and reconciliation of gifts, entertainment, non-cash compensation and political contributions.

RegEd, the leading provider of compliance technology solutions for the financial services industry, has announced the expansion of its Enterprise Compliance Management platform to address the multitude of requirements associated with gifts, gratuities and contributions management. Gifts, Gratuities and Contributions Management (GGC) leverages RegEd’s powerful platform capabilities to enable comprehensive monitoring, workflow-directed task management, real-time alerts to exceptions, and sophisticated hierarchy management to enable firms to drive efficiency throughout the end-to-end tracking of gifts, entertainment, non-cash compensation and political contributions.

 “The regulatory environment and customer and investor expectations put firms under significant pressure to monitor, mitigate and prevent employee and sales behaviors that fail to serve the best interest of clients and investors,” commented Ethan Floyd, Chief Product Officer at RegEd. “Tracking gifts, entertainment and non-cash compensation across hundreds to tens of thousands of employees presents a daunting challenge. Fit-for-purpose technology is needed for streamlined management of request processes, compliance monitoring and exception management associated with the firm’s conflict of interest policies.”

The solution centralizes the management of submissions and approvals, enabling compliance managers and other stakeholders to holistically monitor the exchange of gifts, gratuities, contributions, and other non-cash compensation, track the preclearance approval process and identify limit violations. Comprehensive reporting and full audit trails provide valuable documentation to satisfy requests from internal stakeholders and regulators.

Gifts, Gratuities and Contributions is part of a fully integrated suite of for-purpose conflicts of interest solutions, which enable firms to seamlessly monitor, identify and remedy conflicts and code of conduct issues among the firm’s employee population and third parties. The solution suite comprises robust questionnaires modules which can be implemented individually or together, including GGC, Outside Business Activities and Personal Securities Account Management.

About RegEd

RegEd is the market-leading provider of RegTech enterprise solutions with relationships with more than 200 enterprise clients, including 80% of the top 25 financial services firms.

Established in 2000 by former regulators, the company is recognized for continuous regulatory technology innovation with solutions hallmarked by workflow-directed processes, data integration, regulatory intelligence, automated validations, business process automation and compliance dashboards. The aggregate drives the highest levels of operational efficiency and enables our clients to cost-effectively comply with regulations and continuously mitigate risk.

Trusted by the nation’s top financial services firms, RegEd’s proven, holistic approach to RegTech meets firms where they are on the compliance and risk management continuum, scaling as their needs evolve and amplifying the value proposition delivered to clients. For more information, please visit www.reged.com.

RegEd Announces COVID-19 Resource Center

The site will support industry firms’ ability to manage the influx of new regulatory activity resulting from the COVID-19 pandemic.

RegEd, the leading provider of compliance technology solutions to the financial services industry, today announced that it has established the RegEd COVID-19 Resource Center, which aggregates regulatory activity impacting the financial services industry, related to the scope of regulations that RegEd products and services cover.

“At RegEd, nothing is more important than the health and well-being of our clients, employees, and our community. We’re committed to providing the support and resources to navigate this challenging time and support them in their day-to-day roles.” said John M. Schobel, RegEd CEO and Founder. “Our clients now must keep up with an increased volume of new regulatory updates related to COVID-19.  We’ve created this resource to ease the burden of doing so.”

While firms may already receive updates from industry organizations, regulators and other third parties, the RegEd COVID-19 Resource Center provides a single source of COVID-19 updates that specifically relate to the scope of regulations that RegEd products and services cover.

As some updates may have implications for the rules that drive specific RegEd solutions, RegEd Product Management will continue to use its standard methods to communicate any changes to RegEd solutions that support regulatory agency rule changes related to COVID-19.

Technology-Enabled Regulatory Change Management and Regulatory Intelligence Comes to the Forefront

There are more than 5,000 insurance and securities regulatory changes each year, which will increase significantly with the addition of COVID-19 related updates. RegEd’s Enterprise Regulatory Change Management solution delivers fully analyzed requirements and provides the most efficient means of managing the implementation of new requirements. Learn more.

About RegEd

RegEd is the market-leading provider of RegTech enterprise solutions with relationships with more than 200 enterprise clients, including 80% of the top 25 financial services firms.

Established in 2000 by former regulators, the company is recognized for continuous regulatory technology innovation with solutions hallmarked by workflow-directed processes, data integration, regulatory intelligence, automated validations, business process automation and compliance dashboards. The aggregate drives the highest levels of operational efficiency and enables our clients to cost-effectively comply with regulations and continuously mitigate risk.

Trusted by the nation’s top financial services firms, RegEd’s proven, holistic approach to RegTech meets firms where they are on the compliance and risk management continuum, scaling as their needs evolve and amplifying the value proposition delivered to clients.

SEC and FINRA Exam Priorities to Include Firms’ AML Compliance Programs, Including Policies and Procedures

SEC’s Office of Compliance Inspections and Examinations (OCIE) has issued its examination priorities for 2020. According to the document, OCIE will assess the adequacy of firms’ AML compliance programs, including relevant policies and procedures. AML Compliance was also cited by FINRA as an area of focus in its recent 2020 Risk Monitoring and Examination Priorities Letter.

The Bank Secrecy Act requires financial institutions, including broker-dealers and investment companies, to establish anti-money laundering (AML) programs. These programs must, among other things, include policies and procedures reasonably designed to identify and verify the identity of customers and beneficial owners of legal entity customers…Given the importance of these requirements, OCIE will continue to prioritize examining broker-dealers and investment companies for compliance with their AML obligations...”
– 2020 SEC Examination Priorities

Do you have the right tools in place to manage AML compliance?

Training
A robust training program is a core element of compliance with anti‐money laundering regulations. RegEd’s Anti-Money Laundering Training solutions deliver a streamlined user experience that enables insurance and securities professionals to satisfy AML training requirements with minimal disruption, while enterprise reporting capabilities enable administrators to monitor requirements and completion status.

Policies and Procedures
RegEd’s Policies and Procedures Management provides an enterprise workflow and task management solution that enables comprehensive, end-to-end administration and oversight of all elements of the firm’s policies and procedures.

Read more about RegEd’s Policies and Procedures Management solution.

Read more about RegEd’s AML training solution.

RegEd Leaders Elected to Positions at the SILA Foundation and SILA Education and Training Subgroup (SETS)

RegEd, the leading provider of compliance technology solutions to the financial services industry, today announced that members of its Regulatory Affairs Group have been elected to serve in positions at the SILA Foundation and SILA Education and Training Subgroup (SETS).

Susan Boles, RegEd Senior Regulatory Compliance Analyst, has been elected to the SILA Foundation Board of Trustees as the new Scholarships & Grants Trustee Member. As the new Scholarships & Grants Trustee Member, Susan will oversee all of the scholarship programs and grants that SILA issues.

Brandi Brown, RegEd Senior Vice President of Regulatory Affairs, is now Co-Chair of the SILA Education and Training Subgroup (SETS). The SILA Education and Training Subgroup (SETS) provides a forum for SILA Members to address issues related to Education and Training Requirements for Producers, Adjusters, and Registered Representatives.

Newly appointed Scholarships & Grants Trustee Member, Susan Boles, commented “I’m honored to have been elected as the new Scholarships & Grants Trustee Member on the SILA Foundation Board of Trustees. I have been an avid supporter of the SILA mission for years with RegEd and to be able to serve on the foundation board is one of the best ways I can think of to assist and give back to my profession.”

The purpose of the SILA Foundation is to provide an educational forum for the public. The SILA Foundation Board of Trustees determine what programs, whether in person and online, should be offered. The educational content offered covers Financial Services, specifically Securities and/or Insurance, and its purpose is to develop and/or improve individuals’ capabilities regarding Financial Services. Activities may include educational materials, courses, public discussion groups, forums, panels, lectures, personal career development, mentoring, job training, job fairs, or other programs.

To learn more about the SILA Foundation, please visit http://www.silafoundation.org/.

About RegEd

RegEd is the market-leading provider of RegTech enterprise solutions with relationships with more than 200 enterprise clients, including 80% of the top 25 financial services firms.

Established in 2000 by former regulators, the company is recognized for continuous regulatory technology innovation with solutions hallmarked by workflow-directed processes, data integration, regulatory intelligence, automated validations, business process automation and compliance dashboards. The aggregate drives the highest levels of operational efficiency and enables our clients to cost-effectively comply with regulations and continuously mitigate risk.

Trusted by the nation’s top financial services firms, RegEd’s proven, holistic approach to RegTech meets firms where they are on the compliance and risk management continuum, scaling as their needs evolve and amplifying the value proposition delivered to clients. For more information, please visit www.reged.com.

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