“Financial companies today are not only liable if their employees are out of compliance, but also if their supervisory and management systems do not adequately monitor and mitigate risks. IPC’s new Compliance Policy Engine – a first of its kind for the financial services industry – is purpose-built for trader voice communications, empowering firms with easy to implement technology that establishes, maintains and helps automate policy enforcement,” said Lionel Grosclaude, Senior Vice President, Risk and Compliance, IPC® (pictured above).
With regulations such as Dodd-Frank, MAR, and MiFID II, capital market participants face the increasing burden of both interpreting the impact of regulations and demonstrating they are properly enforcing those regulations.IPC Compliance Policy Engine can help firms stay compliant by allowing companies to establish, enforce, and supervise communications policies that, based on roles and organizational structure, appropriately permit or block voice communications between groups of employees or individuals to comply with global Material Non-Public Information Disclosure and Conflict of Interest regulations.
The IPC Compliance Policy Engine acts to control who in a firm can communicate with other groups or individuals within the firm, and enables risk and compliance managers, with their IT counterparts, to:
- Manage communications internally and to counterparties – whether with hoots or dedicated private wires, one wants to make sure members have access only to relevant colleagues and counterparties.
- Identify and mitigate risks quickly – alerting capabilities provide valuable information to compliance and supervision teams to identify risks and demonstrate effective oversight and risk management.
- Create a defensible record – a clear and thorough audit trail is paramount to a firm’s demonstration of establishing, maintaining, enforcing and supervising compliance policies.
“Proactively managing trading communications and information governance risks will enable financial services firms to evolve their organizations more quickly and gain a competitive advantage,” continued Grosclaude. “We are excited to add the ability to provide end-to-end proactive compliance to our growing portfolio of services and solutions that help our customers manage risks in their environment to help ensure compliance.”
IPC’s new Compliance Policy Engine software platform is now available for IPC’s Unigy, our flagship unified communications and application platform. IPC Unigy is the world’s most widely adopted, secure, compliant end-to-end solution addressing the specific needs of the global regulated financial markets community.