Singapore/Hong Kong, 14 November 2019 – Dow Jones Risk & Compliance has been awarded Best Solution in Regulatory Intelligence in the 2nd Regulation Asia Awards for Excellence 2019 at a ceremony in Singapore on 13 November 2019.
Following a rigorous selection process involving a judging panel made up of subject-matter experts and the Regulation Asia editorial team, Dow Jones emerged as the winner for the volume, breadth and accuracy of the risk and compliance data it provides to ensure financial institutions and corporations can remain compliant with their legal regulatory obligations in all their business dealings.
Given how important sanctions have become as a foreign policy tool, and how frequently sanctions and watch list updates are issued, it has become increasingly crucial to ensure risk and compliance data is of the highest quality. In a bid to provide this assurance, Dow Jones annually engages an independent auditor to verify its data outputs, as well as its procedures and processes for capturing sanctions information.
Dow Jones has data solutions covering PEPs (politically exposed persons), relatives and close associates of high-risk individuals, SIPs (special interest persons), sanctions lists and other official lists, dual-use goods, state-owned companies, and adverse media. Notably, Dow Jones has achieved new capabilities that allow it to identify changes to OFAC sanctions data automatically, enabling 24/7 monitoring of this source and faster, more accurate processing by analysts.
One judge highlighted that Dow Jones is considered the number one provider of sanctions data for tier 1 banks in almost every Asia Pacific market, and that its data is included in SWIFT’s sanctions screening service. In addition, Dow Jones has over 80% market share in China – a market that other firms have had difficulty entering – having established its Beijing headquarters in 1993.
Guy Harrison, General Manager, Dow Jones Risk & Compliance, said: “Asia Pacific is an important and fast-growing market for Dow Jones Risk & Compliance, and we are very proud of this award. With enforcement on the rise, we are absolutely committed to helping our customers in this region build agile and effective compliance programs – always powered by Dow Jones’ trusted, high-quality data – so they can manage risk, stay compliant, and ultimately, do the right thing.”
About the Regulation Asia Awards for Excellence 2019
Regulation Asia Awards for Excellence recognises technology companies, legal and consulting firms, and exchanges that have shaped the regulatory landscape in Asia Pacific, as well as outstanding technology projects both in mature and emerging markets by large tech firms and innovative startups that help meet the requirements of a specific regulatory change infrastructure.
For a full list of award winners, visit www.regulationasia.com/awards.
About Regulation Asia
Regulation Asia is the leading source for actionable regulatory intelligence for Asia Pacific markets. Since 2013, our audience and subscription base have grown to include regulatory bodies, exchanges, banks, asset managers and service providers, allowing us to play a key role in the regulatory agenda.
About Dow Jones Risk & Compliance
Dow Jones Risk & Compliance is a global provider of third-party risk management and regulatory compliance solutions. Working with clients across the globe, it delivers research tools and outsourced services for on-boarding, vetting and investigation to help companies comply with anti-money laundering, anti-bribery, corruption and economic sanctions regulation in mitigating third party risk. The Dow Jones Risk & Compliance business grew 25% year-on-year over the first quarter of fiscal 2020, and exceeded $130 million in revenues in fiscal 2019. Dow Jones is a division of News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV).
For more information, please contact:
Director, Programme Coordinator
+65 9023 4274