Insider Trading is, perhaps, the most prevalent risk faced by any financial services firm today in terms of reputational damage and even survival. No firm, institution or public company is immune to its potential occurrence and the devastating effects of its regulatory consequences. At the same time, having worked closely with many financial institutions in implementing compliance programs in our core business, BasisCode’s management team knew how time consuming and rudimentary the current insider trading monitoring systems were. We set out to provide an innovative insider trading software solution with a highly advanced proprietary detection engine more powerful than any in the industry.
BasisCode Compliance Insider Trading Manager ™ is a revolutionary insider trading compliance management software that enables users to detect suspicious or abnormal trading which may have resulted from the misuse of material non-public information. It features an innovative and proprietary detection engine that can be seamlessly integrated into a firm’s trading monitoring systems.
Unlike other insider trading monitoring systems which are typically event- or news-driven, BasisCode Compliance Insider Trading Manager is set up to monitor all trading activity on an ongoing basis. It is not activated solely on the basis of a material event. Rather, it identifies potentially illegal transactions through sophisticated filtering mechanisms that reduce the probability of false positives and enhance the accuracy of items that warrant review.
The process saves time, reduces risk and provides for more meaningful analysis – and it can be applied to both firm and employee transactions.