Complinet, the leading provider of connected risk and compliance solutions for the global financial services industry, announced today that Tracker, an early warning system for regulatory developments, has achieved significant marketplace momentum and surpassed a number of key milestones, both in terms of the number of regulators and exchanges monitored, and the number of countries covered.
Launched in September 2007, the number of regulators and exchanges currently monitored by Tracker has grown from 50 to 115 in the past year alone. Additionally, the solution now enables financial professionals to keep up to date with global regulatory changes spanning over 23 different countries.
Tracker automatically identifies how regulation will change over time by capturing key regulatory announcements from regulators and exchanges globally. This includes consultation papers, guidance notes, annual reports, speeches and policy statements that are critical in identifying financial trends and how rules may potentially change in the future. Tracker also provides financial institutions with much greater transparency and supervisory controls over the international regulatory landscape.
Complinet’s Tracker is a web-based solution that automates the labour-intensive, manual and administrative tasks traditionally associated with monitoring and reviewing multiple regulatory and exchange websites. Tracker allows users to create customised profiles whereby they receive only regulatory updates relevant to them - saving valuable time – and facilitating quick and accurate responses to regulatory change affecting their business.
Chris Pilling, CEO of Complinet, said: “With all the turbulence and uncertainty in the global financial sector, it is more important than ever for organisations to stay apace of regulatory developments across all operational markets globally. Last week Prime Minister Gordon Brown openly discussed the need for a global early warning system which detects risk in the financial system. Our global early warning solution Tracker can monitor key global regulatory changes, not only identifying key regulatory risks, but also saving a company time and resource compared with manually tracking this regulation.”