In the current regulatory climate, the ability to automate back office processes gives management and compliance teams a distinct advantage.
(PRWEB) February 26, 2013
The partnership will combine Kinetic Partners’ unique expertise in understanding the drivers and implications of relevant local and global regulations, with TerraNua’s market-leading software, MyComplianceOffice, helping firms to respond to the increasing complexities in global compliance and increasing costs to firms of managing their compliance services.
Over the past few years there has been a constant increase in the demands being made on firms by regulators. In particular, Conflicts of Interest and Personal Account Dealing (PAD) have been highlighted as areas firms need to focus on. The FSA's recent letter on Conflicts of Interest has highlighted the need for firms to improve their management information systems in relation to the oversight of conflicts of interest. Personal Account Dealing is subject to strict rules by the SEC and FSA which are intended to combat market abuse and discourage conflicts of interest.
TerraNua CEO, Brian Fahey said, “With increased scrutiny, the cost of compliance is getting higher and higher. Firms are using technology to reduce the cost of compliance. We are looking forward to helping Kinetic’s clients reduce the costs of their compliance program.''
John Griffiths, Member, Compliance, Kinetic Partners: “In the current regulatory climate, the ability to automate back office processes gives management and compliance teams a distinct advantage. Having this capability allows them to focus more time on planning for future risks and in doing so drive a more effective compliance function.”
TerraNua is a leading provider of risk and compliance technology solutions to the financial services sector in the US and Europe. The unique nature of its flagship MyComplianceOffice solution (http://www.mycomplianceoffice.com) enables automation of a broad range of compliance activities, including Conflicts of Interest and Personal Account Dealing and provides an unparalleled ease of use in its approach to monitoring the activities of a compliance program.
About Kinetic Partners
Kinetic Partners is an award winning global professional services firm focused exclusively on the Financial Services industry. Kinetic Partners provides a full range of regulatory consulting, compliance consulting, tax, forensic, risk and assurance services to clients who value their expert service delivery and unique approach. Kinetic Partners experienced team support clients across the world to build, manage and protect their businesses.