SIGNiX Launches Compliance Tool for the Wealth Management Industry

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SIGNiX

Jun 05, 2023, 10:30 ET

SIGNiX has launched a compliance tool to address forgery and fraud in the wealth management industry, meeting FINRA's regulatory requirements. The tool includes automated audit trail review, behavior flagging, and improved compliance and security measures.

CHATTANOOGA, Tenn., June 5, 2023 /PRNewswire-PRWeb/ -- SIGNiX is pleased to announce the release of a compliance tool that will change how professionals within the wealth management industry address suspected forgery or fraud when utilizing electronic signature software. This expansion to SIGNiX's already robust software platform is especially valuable in responding to FINRA's Regulatory Notice 22-18."FINRA has received an increasing number of reports regarding registered representatives and associated persons forging or falsifying customer signatures, or in some cases, signatures of colleagues or supervisors."As a result of FINRA's statement regarding electronic signature fraud, SIGNiX has launched an innovative tool to assist broker-dealers in detecting, tracking, and responding to potentially suspicious activity.Details of the FINRA Compliance Lock software include:

  • Automated audit trail review
  • Report that flags suspicious behavior
  • Ensuring a firm's compliance with proper supervision required under Rule 3110(a)
  • Meeting the technology requirements under Notice 09-64

"FINRA's recent Notice places a great compliance burden on broker-dealers and requires both an investment in technology and a tremendous amount of manual activity to identify and then investigate potential issues. SIGNiX's automated solution slashes the commitment otherwise required in both human and financial resources."

  • According to Jay Jumper, CEOSince 2002, SIGNiX has provided digital signature and remote online notarization software with superior security and fraud protection. With compliance and security as priorities, SIGNiX has delighted countless customers in highly regulated industries. The FINRA Compliance Lock tool is an extension of the Company's mission to protect businesses from document risk. For more information please contact Pem Guerry, Executive Vice President at [email protected].

Media Contact

Pem Guerry, SIGNiX, 1 (423) 305-7041, [email protected]

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SOURCE SIGNiX