Increased Regulatory Pressure Demands Better Controls
Amid the diversity and complexity of investment strategies, financial firms must identify sales activity issues and record actions to meet ongoing regulatory requirements.
The Sales Practices & Suitability solution is part of the SURVEIL-X Holistic Surveillance platform and provides coverage for a broad range of sales practices issues, helping firms meet current and future global regulatory requirements and ensure investment recommendations are consistent with each client’s investment objectives and suitability profiles.
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Complete Package for Sales Practices and Suitability Compliance
NICE Actimize’s Sales Practices & Suitability solution uses a built-in broker risk dashboard for an intuitive and instant view of risk posed by individual brokers. By automating oversight and supervision, firms can ensure consistency and maintain a consolidated audit trail, lowering regulatory risk while improving productivity and efficiency.
Comply with Global Suitability Regulations
Consistent controls and processes, along with sophisticated analytics, help firms address sales practices and investment suitability requirements from regulatory bodies such as FINRA, IIROC, MiFID, CFTC, UK FCA, BaFin, AMF, CONSOB, HKMA, and ASIC.
Improve Organizational Productivity
Automated alert generation, reporting, and audit documentation eliminate manual look-ups and increase staff efficiency, generating high-quality alerts with fewer false positives while creating more consistent processes across the enterprise using fewer resources.
Minimize Financial and Reputational Risk
Comprehensive audit trails, reporting tools, and hierarchical organizational views increase oversight and transparency, ensuring brokers advise clients with suitable investment recommendations, enhancing client satisfaction, and mitigating the risks of litigation, regulatory penalties, and reputational damage.
Behavioral Anomaly Detection
Behavioral Anomaly Detection establishes a profile of normal behavior (for example, for a specific regulated user or group of monitored employees), related to communications and transactions. By using our Managed Analytics Service ActimizeWatch Compliance, we can help you with creating profiles for individual advisors and groups of advisors, and for accounts as well.
Cross-border Sales and Suitability: Overcoming Today’s Wealth Management Challenges
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