Bluewave releases investment banking compliance system
21 January 2003 | 641 views | 0
Business solutions provider Bluewave has launched a compliance asset tracking (Cat) system to help financial firms comply with regulatory demands for the disclosure of conflicts of interest between capital markets activities and investment banking relationships.
Bluewave, a UK subsidiary of Danish firm Maersk Data, says the Cat solution allows the compliance departments in investment banks to automatically record conflicts of interest.
The system provides research analysts with automated disclosures when making investment recommendations and delivers the information to the relevent media.
Non-compliance automatically triggers exception and statutory reports which provide the bank with 'compliance-proof' records.
Tony Kypreos, Bluewave's chief commercial officer, says investment banks have enormous demands placed on them in dealing with the encoding, cataloguing and indexing of data relating to conflicts of interest.
"With our Cat solution, financial services institutions benefit from automating processes that allow the compliance, legal, securities research, and corporate finance and media departments to have access to up-to-date data," he adds.