Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced a strategic partnership with TerraNua, a provider of conflicts management and compliance automation technology, to help compliance managers at both buy side and sell side institutions streamline employee supervision and code-of-conduct management.
Thomson Reuters Accelus Conflicts Compliance, a new web-based solution developed through this partnership, will integrate the functionality needed to fully manage the activities of a robust and measurable compliance program.
With regulations such as the Dodd-Frank Act and the EU Market Abuse Directive, financial institutions are under greater pressure to demonstrate supervision and create a more visible culture of compliance within their organisations. Accelus Conflicts Compliance is designed to automate the monitoring and management of conflicts of interest and code of conduct issues within firms, including monitoring employees' personal trading, detecting potential insider trading, monitoring political contributions, gifts and entertainment, and employee attestations and disclosures.
Building on the launch of Eikon for Compliance Management, a version of the firm's flagship Eikon financial markets desktop, Thomson Reuters Accelus Conflicts Compliance combines two modules that enable compliance managers to automate their compliance programs and drastically reduces the time required to track employee trading activities.
Personal Trade Monitoring (PTM) simplifies the employee trade pre-clearance process; automates the capture of trade confirms from brokerages; reviews employee trading activity against restricted lists, insider trading rules, front-running, tailgating and other conflict scenarios; and facilitates annual employee attestations and disclosures related to personal trading.
Compliance Program Management (CPM) helps firms track employees' gifts & entertainment, political contributions and outside interests; automates employee attestations and disclosures; and maintains an audit trail of compliance tasks and cases for internal and external regulatory reporting.
"Recent high profile insider trading cases have placed conflicts of interest high on the agenda of both regulators and trading firms," said Brian Fahey, CEO, TerraNua. "While regulatory scrutiny is increasing, firms are seeing their compliance budgets tightening. Development of this software as a services (SaaS) solution not only reduces IT support costs for firms but fully automates their supervision activities and streamlines internal processes while enhancing auditability."
"Accelus Conflicts Compliance takes a multi-disciplinary approach to monitoring and managing conflicts of interest that touch many points across an organization," said, Andrew Neblett, managing director, Enterprise Risk Management, Thomson Reuters. "This solution brings together a number of leading assets spanning Thomson Reuters extensive market data and content, our comprehensive eLearning solutions covering anti-money laundering, market conduct and fraud, as well as global regulatory intelligence to support the most comprehensive set of insider trading surveillance rules. Accelus Conflicts Compliance is uniquely positioned to capture, monitor and investigate a firm's employee trade data and enable firms to demonstrate a more visible culture of compliance within their organisations."