Singapore/Hong Kong, 22 November 2022 – MCO (MyComplianceOffice) was awarded Best Solution – Conduct Risk Management in the 5th Regulation Asia Awards for Excellence 2022 at an in-person ceremony on 22 November 2022.
MCO provides an integrated SaaS platform that automates surveillance and monitoring of misconduct risk across a firm’s legal entities, business lines, and jurisdictions. It is designed to proactively manage the regulated activities of the firm, its employees and third-party relationships including customers, vendors, counterparties, subadvisors, lobbying firms, and others.
The platform helps firms comply with global regulations around individual accountability, market abuse, monitoring of outside business activities, political contributions and donations, and conflicts of interest. It centralises data to ensure ease of access, consistency and enhanced risk control; provides alert-driven and flexible dashboard-based reporting; and ensures a full audit trail is maintained as proof of compliance.
Thanks to the acquisition of Governor Software last year and Schwab Compliance Technologies earlier this year, MCO has also introduced functionality to allow firms to comprehensively view changes to their regulatory and compliance obligations over time – which helps them to set priorities, identify gaps, and streamline operations. The platform also offers a mobile app to help employees to fulfil their compliance obligations and compliance officers to automatically receive reports of missing action items and irregular employee activity for review.
“In today’s environment, it is increasingly important for firms to have controls and processes in place to detect and remedy conduct risk before it becomes a bigger problem or results in fines and reputational damage,” said one judge on the Regulation Asia awards panel. “MCO’s data management and reporting capabilities do just that, enabling compliance teams to monitor for potential conflicts and misconduct risk and take quick action where needed.”
Over 14 years, MCO has had a 95 percent client retention rate. Clients using the platform have cited a significant reduction in manual work as well as effectiveness gains, with one executive describing the platform as being “vital” to their business. The MyComplianceOffice platform is used by over 1,300 clients in over 105 countries, including banks, asset managers, private equity firms, and other financial services firms.
About the Regulation Asia Awards for Excellence 2022
The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help ensure the highest regulatory compliance standards are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.
For a full list of the award 2022 winners, visit www.regulationasia.com/awards.
About Regulation Asia
Regulation Asia is the leading source of actionable regulatory intelligence for Asia Pacific markets. With over 12,000 subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.