Raymond James Financial (NYSE: RJF) is using SunGard's Protegent Surveillance in its traditional employee brokerage business, to decentralize supervision at the branch level.
It also uses Protegent within its independent contractor business, primarily to centralize supervision through the home office. An automated supervision and compliance process using Protegent helps provide Raymond James with an efficient process, standardized metrics and improved ability to manage consistency of execution.
Kip Carevic, chief compliance officer at Raymond James & Associates, said, "SunGard Protegent's flexibility to be implemented in both centralized and decentralized models helps us to better manage client related investment risk. With this approach, we are able to quickly view branch trade activity and remediate potential issues with increased efficiency. Protegent helps make the process of proactively managing litigation and regulatory risk more transparent and consistent. Consequently, Raymond James' financial advisors and branch managers can continue in their primary mission of communicating with and providing risk appropriate returns to theirinvesting clients."
"Today's brokerage trading environment demands efficient supervisory tools that help financial services institutions assess risk quickly and ultimately protect the interests of their businesses and their clients," said Raj Mahajan, president of SunGard's trading business. "SunGard's Protegent offers flexibility and reliable supervision, suitability and compliance capabilities that firms need to be proactive and consistent in managing risk across their organizations."
Protegent Surveillance is a comprehensive compliance and surveillance solution for financial services institutions. It provides users with trade based compliance reviews that gives firms an enterprise view of compliance performance and helps enhance users' ability to quickly assess risk.