SunGard released the first version of its new compliance and surveillance software for financial institutions, called Protegent Surveillance, which combines the software company’s existing Protegent BrokerAudit and Synapse Surveillance products.
The first version of the product includes trade review capabilities for reviewing client profiles, transactions and accounts to help provide transaction review and account monitoring for suitability-based, ethical and quality of practice analysis.
“Protegent Surveillance was designed to help compliance officers meet the increasing challenges of time- and labor-intensive trade review processes, as well as to communicate effectively with supervisors and reps in the field,” said Paul Erickson, president of SunGard’s compliance and surveillance Protegent business solutions. “Protegent Surveillance helps to provide centralized information across the organization and a more proactive environment, placing information into the hands of people that can help affect change and solve problems before they become serious.”
SunGard will release the next version of Protegent Surveillance in the second quarter of 2006, which will add modules for consolidated client data auditing, account risk ranking, and anti-money laundering exception management for detecting “red flag” conditions against criteria developed by the National Association of Securities Dealers (NASD)