Key Features of SURVEIL-X for Consumer Duty Compliance
1. Comprehensive Interaction Monitoring
- Multi-Channel Capture: Records all forms of broker-dealer and client communications, including voice, electronic messages, and CRM meeting notes, ensuring no interaction goes unmonitored.
- Recommendation Analysis: Utilizes advanced analytics to detect and alert when investment recommendations deviate from established customer risk profiles.
2. Enhanced Consumer Support
- Disclosure Verification: Automates the monitoring of interactions to confirm that proper disclosures are provided before any recommendations, enabling customers to make informed decisions.
- Financial Objective Alignment: Highlights and displays products that are more suitable for customers, supporting them in achieving their financial goals.
3. Misconduct Detection and Prevention
- Behavioral Analytics: Identifies a broad range of misconduct issues, such as aggressive selling, commission loading, and churning, through out-of-the-box analytics.
- Customizable Rules Engine: Allows firms to adapt existing analytics or create new rules to detect specific concerns, including erratic client behavior or inappropriate recommendations to vulnerable populations.
4. Regulatory Reporting and Audit Support
- Transparent Audit Trails: Maintains comprehensive records of all interactions and surveillance activities, facilitating regulatory reporting and demonstrating compliance with Consumer Duty standards.
- Evidence-Based Compliance: Provides documented evidence of adherence to regulatory requirements, supporting firms during audits and regulatory reviews.
