SunGard Launches Protegent Compensation, a Compensation Processing and Risk Management Solution for Brokerage Firms

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SunGard has launched Protegent Compensation, a solution that supports the compensation processing and compliance risk management functions for sell-side retail and institutional brokerage firms.

SunGard has launched Protegent Compensation, a solution that supports the compensation processing and compliance risk management functions for sell-side retail and institutional brokerage firms. Protegent Compensation helps broker-dealers reduce operational risk and increase the accuracy of how they administer payments to their representatives. It is integrated with SunGard’s Protegent Surveillance and Protegent Customer Onboard, providing a comprehensive solution for regulatory risk and compliance management.

Broker-dealers may be exposed to regulatory fines and censures as a result of unsuitable representative and customer activity. In many cases, a firm’s compensation pay-out process can reduce its exposure to operational and regulatory risk. Protegent Compensation automates commission processes to help mitigate cash-flow risk. It also helps reduce manual intervention and increase pay-out accuracy. With Protegent Compensation, brokerage firms can leverage a broad array of compensation rules, which includes fees, loans, draws, expenses, holds, splits, bonuses, garnishments and advances. Its rule sets support all asset classes, business models and pay cycles.

Jim Dresselaers, executive vice president and chief operating officer, H. Beck, Inc., said, “SunGard’s new compensation processing solution will help us improve our payout administration and reduce our risk exposure. Using SunGard’s Protegent for commissions processing, new account opening and compliance surveillance will help us reduce operational costs while demonstrating a proactive culture of compliance.”

Raj Mahajan, president of SunGard’s trading business, said, “Protegent Compensation will help sell-side brokerage firms grow their businesses by helping them introduce new products and attract and retain talented representatives through the effective management of commissions pay-out processes and compliance risk. The introduction of Protegent Compensation to SunGard’s suite of compliance and risk solutions will help our customers further increase efficiencies and transparency in these areas.”

SunGard’s Protegent Compensation serves the broker-dealer community and complements SunGard’s iWorks EIM solution which supports the compensation management needs of insurance carriers in the life, health, and P&C industries.

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 compensation processing, 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 surveillance practice, helps streamline the compliance life cycle, proactively monitors trades and provides comprehensive auditing and reporting for financial institutions and companies that trade in energy and commodities markets.

About SunGard
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company.

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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