How Can BasisCode Help With Form CRS & Regulation Best Interest?
May 6, 2020
Ask Us How BasisCode Can Help…
With Form CRS & Regulation Best Interest
The SEC recently issued Risk Alerts on OCIE’s Form CRS & Regulation Best Interest Exam Focuses. Meeting these compliance dates has taken center stage for many financial services firms and with good reason.
As firms continue to assess the immediate and long-term changes needed to support these new requirements, the BasisCode Compliance platform is well designed to support your firm’s agile response and procedural updates.
So, what are the Top 3 ways BasisCode can help?
1. Delivery
Utilizing the Certifications module of BasisCode, firm Officers can assemble firm specific distribution lists to prepare and deliver their firm’s Form CRS to the appropriate clients.
2. Communications & Training
Utilizing a combination of our Testing, Certifications and Document Library features, Officers will be able to fully implement, communicate, and train their staff on changes to their compliance procedures as a result of these new requirements.
3. On-Going Management of Conflicts of Interest
Managing broker conflicts has been noted as a FINRA exam focus area for Broker-Dealers. The BasisCode Certifications and Forms Studio will allow firms to model their on-going processes to support initial capture and, scheduled or ad-hoc, requests for updates to conflicts of interest across the organization, be it at the broker level or product level.
The scalable nature of the BasisCode Compliance suite has been designed to enable compliance teams to rapidly design and deploy new or modifications to their compliance programs to maintain strong cultures of compliance and adapt to regulatory change.
This coupled with our hallmark, audit-ready reporting capabilities, will provide confidence in preparing for future regulatory examinations. Schedule a demo today to learn more about how we can help.
Updating Security Practices
April 15, 2020
Updating Security Practices
Best Practices for a WFH Environment
Based on Morris, Manning & Martin, LLP’s recent article “Potential Regulatory Scrutiny Of COVID-19 Remote Work Cybersecurity Risks”, and as more organizations shift to a remote based workforce, we agree that there is a heightened need to stay vigilant in addressing cybersecurity risks and cyberattack threats related to new remote working environments – and it’s clear that the regulators expect the same.
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Meltdown/Spectre CPU Vulnerabilities and Compliance Software
January 23, 2018
BasisCode has completed all available OS updates, patches, and other necessary software updates including Antivirus and SQL Server to all environments. Employee machines will also continue to be updated and validated.
Protecting Compliance From The Meltdown / Spectre Issue
January 22, 2018
BasisCode has been working on the Meltdown / Spectre issue from the moment of the announcement. In our testing environments, we have applied all OS updates and other necessary software updates including Antivirus and SQL Server. We have completed our testing and will be applying these updates to all production environments by January 21st.
Compliance controls top FINRA focus for 2016
February 29, 2016
The quality of a firm’s compliance controls is climbing higher on the priority stack in both the boardroom and on regulators’ examination checklists. In February, for instance, the founder and CEO of a multi-billion dollar human resources software company stepped down over inadequate compliance procedures and internal controls.[1]
Compliance Tech Tip: Resolve to Align Gift & Entertainment Activities with Your Firm’s P&Ps
December 29, 2015
By Carlos Guillen, President & CEO BasisCode Compliance
If you’re a compliance officer making New Year’s resolutions, here’s one to add to the top of your list. Make better use of technology to track and disclose employee gift giving and entertainment (G&E) activity. Software makes it easier for staff and supervisors to align G&E management with a company’s compliance policies and procedures (P&Ps). As recent history shows, firms that fail to do so may pay a steep price long after the confetti and compliance cases settle. (more…)
When it Comes to Compliance, Compliance Evidence is Everything
December 8, 2015
As industry debate intensifies regarding chief compliance officer liability and the perils of outsourcing, compliance professionals should take a closer look at how technology can keep their firms in good stead with regulators. When it comes to compliance management and malfeasance, compliance evidence is everything, and technology can prove invaluable. Regulated firms and those that rely on consultants, third-party administrators, law firms or others to handle compliance can reduce the risk of lapses by leveraging software solutions designed to better manage compliance programs. (more…)
Managing the convergence of compliance and technology
October 15, 2016
By Carlos Guillen, President & CEO BasisCode Compliance
Citigroup recently agreed to pay a $15 million penalty for failing to enforce compliance breaches that technology could have prevented. As evidenced by such high-profile cases, even some of the leading financial firms overlook the role that technology can play in avoiding costly compliance failures.
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