Manage Risk. Not Paper.
Improve supervision and reduce costs in days with Compliance11's on-demand service.
Improve supervision and reduce costs in days with Compliance11's on-demand service.
Save time and money. Protect your firm against employee trading conflicts.
Automatically approve trade pre-clearances
Maintain restricted lists and watch lists
Receive brokerage statements electronically
Automatically review brokerage statements
Monitor for front running
Automatically approve trade pre-clearances
Employee trade requests are automatically pre-cleared according to business rules that you configure. If the trade request does not comply with the business rules, it can be automatically denied or routed for manual review.
Pre-clearances
Restricted Lists
Electronic Statements
Statement Review
Front Running
An employee logs into the system and completes a short form. If you use auto approval and no business rules are broken, the employee receives immediate notification that the trade was approved. If you use manual approval or business rules are broken, the approver receives email notification of the trade request. Upon approval or denial, the employee receives email notification.
Yes.
No.
120 stock exchanges in 90 countries.
You can still use the system to automatically review brokerage statements. Checking statements against restricted lists, client trades, holding periods, etc. takes seconds instead of hours.
When brokerage statements arrive via electronic brokerage feed or are manually entered, the system checks them against customer configured business rules. For each rule that is broken, a personal trading exception is created and assigned to Compliance. Compliance investigates the exception, resolves it and marks it closed. A complete audit trail is maintained for auditors.
Yes. You configure which business rules you want to check. If you have a business rule that Compliance11 does not support yet, Compliance11 works with you to add the business rule to the system for all customers to use at no charge to you.
Yes. You can define as many groups of employees as you like. Each group can have its own business rules.
Yes. You can define as many groups of employees as you like. Each group can have its own restricted list.
You complete paperwork authorizing the feed. 1-2 weeks later data starts showing up in the system. No involvement from your IT department is necessary. (Certain brokerages are more involved and require more time.)
Data feeds can be provided for any brokerage that can deliver data electronically.
Firms that cannot limit the brokerages their employees trade at typically get brokerage feeds for the large brokerages. For other brokerages, they either (1) have employees enter their transactions as part of their monthly transaction confirmation, or (2) have an admin enter the transactions from the paper brokerage statement. Entering the statement by hand is typically faster than doing a manual statement review.
1-5. There are diminishing returns at some point.
Yes. Once uploaded, the transactions can be checked during trade pre-clearance and can be used to create the Front Running Report.
Yes. The system supports periodic employee entry of transaction and holdings data. However, most firms that get electronic brokerage feeds do not use this feature.
Think Equity LLC, a broker dealer / wealth management firm with multiple offices
The firm pre-clears 500 personal trades a month by email. When each email came in, Compliance did a series of manual checks including a restricted list check. Periodically Compliance manually reconciled the pre-clearances with the employees' statements and followed up on exceptions. This work required almost an entire fulltime person.
The RIA implemented Compliance11's Personal Trading product using the auto-approve feature. Now employees receive instantaneous approval or denial of trade requests. Pre-clearances and confirms are reconciled automatically, and exceptions are logged automatically.
Thanks to the automated solution, the CCO was able to cancel a hiring request and is now viewed as a hero in the organization.
"The Compliance Team at ThinkEquity has been very happy to partner with Compliance11 in the development and rollout of its product offerings. Rarely have we partnered with a vendor who has such a strong understanding of the ethical imperatives of our business, and of the work that is necessary to survey the daily activities of our firm. Because of their web-based tools, we have reduced the hours necessary each day to review employee personal activities, streamlined our various employee attestations and have rolled out other processes that help throughout the firm. This has allowed us to make the team much more efficient. The result - no new hires! But best of all, the Compliance11 team is very responsive, provides outstanding customer service and is always ready to hear suggestions. It's almost like having a development team of your very own!"
Harriet Bitt, CCO
Cowen and Company, a broker with multiple offices in the US, Europe and Asia
The Compliance department was looking for an employee personal trading solution. The current solution was email based and utilized an antiquated database. The Chief Compliance Officer was concerned that his staff was spending too much time sorting through paper and email. He felt that his staff should instead focus on high value analysis. The vendors that were looked at required complex implementations or significant customizations. The Chief Compliance Officer did not think that his staff had enough spare time to launch a major systems implementation project.
Cowen and Company chose Compliance11's Personal Trading product primarily because it was looking for a partner, not just a vendor. Compliance11's VP of Customer Service worked with Cowen's Compliance staff to implement the product, configure the business rules and implement the brokerage feeds. The intuitive nature of the interface allowed for a speedy implementation that was not burdensome on the compliance staff.
Cowen and Company was able to maintain and improve it supervisory capability while significantly reducing its clerical effort and compliance spend.
"Our Board of Directors and senior management ask from time to time whether recent market developments and the Firm's responses have impaired the ability of the Legal and Compliance Department to ensure appropriate internal controls are in place. I have been able to answer "No" because we have taken a number of steps to mitigate the situation. One such step is to increase our reliance on systems solutions and technological tools, including our recent implementation of Compliance11 to automate personal trading, affirmations, disclosures and general supervision. This product allowed us to focus on critical surveillance and advisory issues, improve our overall work flow and enhance our ability to respond to client needs, while at the same time, reducing our compliance spend."
Mark Egert, CCO
RMB Capital Management, a wealth management firm in Chicago, IL
The Chief Compliance Officer (CCO) utilized an associate to match trade requests against the restricted list, reconcile confirms to employees trade requests and manage the creation of the quarterly holdings report. Budget cuts and changing firm priorities caused the associate to be transferred to another department. The CCO was left to deal with a pile of un-reconciled confirms and a process in need of administration. With several IT projects in flight, the CCO was left with minimal IT support.
The firm decided to implement Compliance11's personal trading product. Since Compliance11's products are delivered via Software-as-a-Service (SaaS), IT was not required to assist in the implementation. The product automated the pre-clearance of trade requests, the reconciliation of the brokerage confirms and the reporting of employee quarterly holdings.
The CCO was now able to perform her additional duties without the need for an extra headcount.
"We used to spend hundreds of hours downloading and printing employee statements/Compliance11's employee trading product has saved us an incredible amount of time. Employees have embraced the instant acknowledgement that their trade has been approved."
Jennifer Rydwelski, CCO
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