The Investment Center Inc., three-time award winner for broker-dealer of the year by Investment Advisor Magazine, has selected SunGard’s Protegent Surveillance to help automate compliance surveillance processes and mitigate exposure to regulatory risks. SunGard’s Protegent Surveillance helps sell-side retail broker-dealers gain better visibility into trade and account data, identify questionable transactions and proactively fulfill supervisory responsibilities. The Investment Center will use SunGard’s Protegent Surveillance to help increase the effectiveness of its suitability review process for both direct-to-manufacturer and brokerage businesses.
As new rules and requirements emerge from the U.S SEC and FINRA, sell-side retail broker dealers must seek ways to comply with regulatory changes and maintain operational efficiencies. Automation helps protect firms from financial and reputational compliance exposure by increasing the ability to detect questionable transactions and proactively addressing issues prior to regulatory audits. Protegent Surveillance’s compliance rules library and review workflow will provide the Investment Center with increased ability to help monitor and detect abnormal account activity while providing evidence of being compliant with agency and internal written supervisory procedures.
Doug Wright, chief compliance officer of The Investment Center Inc., said, “SunGard’s Protegent Surveillance will help us gain greater transparency into our businesses activities and lower overall regulatory risk. The ability to identify questionable transactions will help us further protect our business, increase investor confidence and streamline our field supervision processes.”
Steve Sabin, chief operating officer of SunGard’s Protegent business unit, said, “Sell-side retail broker dealers are seeking adequate compliance, surveillance and supervision solutions for both their direct-to-fund and brokerage businesses. SunGard’s Protegent Surveillance willhelp The Investment Center improve operational efficiencies and actively manage growing regulatory changes by automating compliance surveillance processes across all its business lines.”
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