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Our solution and subject matter experts will provide an overview of how RegEd’s enterprise solutions enable our clients to improve efficiency, effectiveness and transparency across the enterprise.

Related Webinar: Gifts and Entertainment Compliance – Important Regulatory Developments and Best Practices in a Dynamic Environment 

Industry Challenge

Tracking gifts, entertainment and non-cash compensation across hundreds to tens of thousands of employees presents a daunting challenge. As regulatory scrutiny increases, so does the financial and reputational consequences associated with non-compliance.

Regulators such as FINRA (Rule 3220) continue to make Conflicts of Interest, including the supervision of Gifts, Gratuities and Contributions, a top priority. To ensure compliance, member firms must identify technology and processes that enable the efficient management of the Gifts, Gratuities and Contributions request submissions, supervisory review, approval / response, status tracking, registered representative attestation, documentation and reporting processes.

RegEd Solution

RegEd’s Enterprise Gifts, Gratuities and Contributions Management is the industry’s most advanced software solution for managing the submissions, approvals and tracking of gifts, business entertainment, non-cash compensation and political contributions to readily identify conflicts of interest.

Gifts, Gratuities and Contributions is fully configurable to enable the firm to readily adapt its organizational hierarchy and compliance work processes to the system. Configurable forms, preclearance capabilities, automatic data population, business rule logic, data validations, hierarchy driven workflow routing, external contact directory and threshold management ensure that all transactions comply with regulations and firm policy, providing insight into violations, trends, conflicts of interest, reducing the risk of non-compliance.

The solution streamlines and centralizes the management of submissions and approvals.  Submitters access the system’s intuitive, web-based interface, and enter details related to gratuities or other non-cash compensation, given or received. The system calculates the total against the firm-defined threshold and notification is automatically sent to designated recipients. Sophisticated workflow management directs pre-clearance requests through a firm-defined workflow. Approvers can approve or reject the request and full documentation is captured by the system. Alerts are automatically sent to compliance, managers and other designated individuals upon limit violations. In addition, firms can implement their own business rules to create event-driven email notifications. The system provides the ability for stakeholders to manage by exception and readily communicate on submitted requests, which reduces review time and speeds the decision process. Full tracking capabilities enable 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.  Reports can be generated on-demand or using pre-defined report formats. Comprehensive reporting and full audit trails provide valuable documentation to satisfy requests from internal stakeholders and regulators.

Distinguishing Capabilities

Gifts, Gratuities and Contributions leverages RegEd’s powerful platform capabilities to enable comprehensive monitoring, workflow-directed task management, real-time alerts to exceptions, and sophisticated hierarchy management.

  • Track exchange of gifts, entertainment and non-cash compensation by person and category.
  • Automate notifications to supervisors, compliance and other stakeholders when gifts, gratuities or other contributions are given or received.
  • Route submissions via a pre-approval workflow leveraging the firm’s supervisory and organizational hierarchy.
  • Identify and establish visual indicator for a request if actual gift amount exceeds the threshold of estimated amount.
  • Generate comprehensive reports by recipient, category, date range and other parameters.

RegEd’s Gifts, Gratuities and Contributions solution delivers extraordinary efficiency and enhances the quality of supervision while dramatically reducing the risk of non-compliance and related consequences.

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