Today's brokerage trading environment demands efficient supervisory tools that help financial services institutions assess risk quickly and ultimately protect the interests of their businesses and their clients
Salt Lake City, UT (Vocus) July 28, 2008
Raymond James Financial (NYSE: RJF) is using SunGard's Protegent Surveillance (http://www.sungard.com/protegent) in its traditional employee brokerage business, to decentralize supervision at the branch level. It also uses Protegent within its independent contractor business, primarily to centralize supervision through the home office. An automated supervision and compliance process using Protegent helps provide Raymond James with an efficient process, standardized metrics and improved ability to manage consistency of execution.
Kip Carevic, chief compliance officer at Raymond James & Associates, said, "SunGard Protegent's flexibility to be implemented in both centralized and decentralized models helps us to better manage client related investment risk. With this approach, we are able to quickly view branch trade activity and remediate potential issues with increased efficiency. Protegent helps make the process of proactively managing litigation and regulatory risk more transparent and consistent. Consequently, Raymond James' financial advisors and branch managers can continue in their primary mission of communicating with and providing risk appropriate returns to their investing clients."
"Today's brokerage trading environment demands efficient supervisory tools that help financial services institutions assess risk quickly and ultimately protect the interests of their businesses and their clients," said Raj Mahajan, president of SunGard's trading business. "SunGard's Protegent offers flexibility and reliable supervision, suitability and compliance capabilities that firms need to be proactive and consistent in managing risk across their organizations."
Protegent Surveillance is a comprehensive compliance and surveillance solution for financial services institutions. It provides users with trade based compliance reviews that gives firms an enterprise view of compliance performance and helps enhance users' ability to quickly assess risk.
SunGard provides a diverse set of compliance and risk mitigation solutions that encompass risk management, surveillance, supervision, regulatory and ethics monitoring. Leveraging SunGard's Common Services Architecture (http://www.sungard.com/csa), compliance components can be rapidly deployed alongside or embedded within line-of-business systems and orchestrated to provide an enterprise-wide view. SunGard also provides regulatory and compliance consulting services that are designed to help senior executives at financial institutions assess the quality and substance of their risk and compliance programs.
About Raymond James
Raymond James Financial (NYSE-RJF) is a Florida-based diversified holding company providing financial services to individuals, corporations and municipalities through its subsidiary companies. Its three wholly owned broker/dealers, Raymond James & Associates, Raymond James Financial Services and Raymond James Ltd. have more than 4,850 financial advisors serving 1.7 million accounts in 2,200 locations throughout the United States, Canada and overseas. In addition, total client assets are approximately $221 billion, of which approximately $37.7 billion are managed by the firm's asset management subsidiaries.
About SunGard's Protegent
SunGard's Protegent solutions for compliance, suitability and new account opening help retail and institutional investment firms oversee business processes relating to client acquisition and suitability, including Know Your Customer and OFAC list checking, as well as employees' personal trading and code of ethics, while helping reduce expenses and address regulatory requirements. Protegent supports supervision and practice, helps streamline the compliance life cycle, proactively monitors trades and provides comprehensive auditing and reporting.
With annual revenue of $5 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world's 50 largest financial services companies. Visit SunGard at http://www.sungard.com.
Trademark Information: SunGard, the SunGard logo and Protegent are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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