Make a Regulatory Audit a Stress-Free Event

September 28, 2016

Everything they want to see can be a click away

It’s no secret that regulatory initiatives and oversight activities have intensified in recent years. While the pressure to be compliant is being ratcheted up across the industry, the exempt market has been an area of particular focus, and there’s no reason to believe this will change any time soon.

The OSC, in particular, has put the spotlight on exempt-market dealers (EMDs). In a recent report, the regulator made it clear it’s not happy with what it’s seeing. In a sweep of a sample of EMDs, the OSC found deficiencies in multiple areas, one of which being recordkeeping. The report says some EMDs were unable to produce records that “should have been readily available.”

In some cases, this type of compliance deficiency can lead to disciplinary action, resulting in fines and reputational damage.

You may cringe at the thought of a regulatory audit, but there’s no reason to. With a seamlessly unified digital recordkeeping platform, a visit from the provincial regulator can feel more like a social call (and less like going through an extended security check at the airport).

In a single interface, you can have every front- and back-office document at your fingertips. Every KYC form, KYP credential, trade approval, outside business activities disclosure form – to name just a few – would be just one click away.

Regulators have long been concerned about exempt-market investments being sold to non-qualifying clients. With the right technology, this becomes almost impossible, because the platform will automatically prevent any deal from closing that does not have every form and client qualification verifiably in place.

A unified technological solution makes compliance a fully ingrained, largely automated process that keeps you onside with the regulators and gives you more time to focus on improving and expanding your business.

Emmanuel Gonnet

VP, Product Management

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