CounterpartyLink (CPL), an independent provider of evidence-based legal entity intelligence for buy- and sell-side institutions and law enforcement agencies, today announced the introduction of CPL Hierarchy Profile, a new product designed to provide a 'single view of the client' across complex client groups.
The CPL Hierarchy Profile offers one of the most valuable insights for the compliance manager. It offers `a single view` into the often complex makeup of legal entities, in particular, into how large institutions are structured and how they are connected to each other. It provides complete clarity of the entire group structure, as needed for compliance regulation and is essential to achieve the key objectives of risk aggregation.
Commenting, James Redfern, managing director, CounterpartyLink said "CPL Hierarchy Profile is fundamentally what the GLEIF is looking to introduce at the end of this year (2015) as it incorporates the LEI, where certified.
However CPL goes beyond this narrow remit by covering any entity from almost any jurisdiction globally, the majority of which do not and will not have an LEI."
Financial institutions need accurate client information. This is the key requirement not only as a matter of good business practice, but is behind all KYC and AML (Know Your Customer and Anti-Money Laundering) regulations.
CPL enables customers to certify the accuracy of their entity data and ensure reporting is both correct and monitored for updates over time something the FCA and other regulators mandate. Crucially, CPL shortens the workflow processes for its customers, and therefore increases efficiencies, reduces costs and raises compliance levels. Every extra day that a customer takes to 'on-board' a new client is potentially a day of client fees lost.
Established in 2005, CounterpartyLink's customers include some of the most respected financial institutions and law enforcement agencies across the world. Its services and solutions reflect a vast experience in the legal entity reference data industry and help companies comply with the many rigorous regulatory requirements. CounterpartyLink is ISO 17442:2012 Financial Services - Legal Entity Identifier; and is ISO 9001 - Quality Management Systems; ISO27001 - Information Security Management Standard (ISMS) compliant.