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BasisCode Compliance introduces industry-first compliance management software self-subscription service

New service to help small and medium enterprises (SMEs) reduce regulatory risk

BasisCode Compliance today introduced the industry's first self-subscription service that makes compliance management software more easily accessible to small to medium-sized enterprises (SMEs).  The service helps level the playing field for financial firms and consultants that may not otherwise have the resources to implement a comprehensive automated compliance management platform to reduce regulatory risk.

BasisCode Compliance is the industry's broadest set of integrated software that improves compliance management for investment advisors, broker-dealers, compliance consultants, law firms and other service providers.  The software simplifies and centralizes compliance management processing, from testing and risk assessment to personal trading surveillance and staff certifications.  The rules-based engine makes it easy for users to modify workflow logic throughout the compliance management lifecycle.

SMEs with up to two compliance officers and no more than 15 employees can subscribe to one of four BasisCode Compliance Plans.  Plans include on-boarding and intuitive online help, while fee-based support is available.  Savings of more than 25% apply when an annual subscription is prepaid.  Plans can be found at

Forms & Documents Only Plan - lets firms build unlimited custom compliance forms and manage documents, including outside business activity, advertising reviews and trade error submissions and more, for easy submission, approval and reporting.  ($100/month)

Personal Trading Plan - Trading-related Code of Ethics, compliance calendar, forms and document management, brokerage statement uploads, pre-clearance trade requests, post-trade policy alerts, exception management, optional broker feeds.  ($400/month)

Standard Plan - Forms & Documents plan enhanced with Risk Assessment and Testing modules and well as dynamic Dashboard, web-based Portal, employee certifications (questionnaires, surveys, quizzes), robust analysis and reporting, gift & entertainment activity management, as well as a whistleblower module.  ($400/month)

Premium Plan - audit-ready compliance program with all the functionality above, including Forms & Document management and Personal Trading module.  ($500/month)

Atlanta-based HA&W Wealth Management implemented BasisCode's Standard Plan for its registered investment advisory (RIA) practice, which provides individual wealth management services, qualified retirement plan services as well as insurance and executive benefits strategies.  The dually registered advisor can now easily manage centralized compliance controls instead of having to repeatedly conduct and document disparate processes, tests and staff attestations.

"With BasisCode's self-subscription service, we got up and running in less than a month without the risk and overhead of customizing or installing software in-house," said Debbie Powell, Chief Compliance Officer of HA&W Wealth Management.  "Now we can demonstrate, both to clients and regulators, that we are proactively maintaining an audit-ready compliance program."

The SEC recently announced plans to increase the number of examiners of investment advisers by nearly 20 percent in 2016.[1]  Last year, the SEC's Office of Compliance Inspections and Examinations issued a Risk Alert to encourage the thousands of firms that have yet to be examined to improve their compliance programs.[2]  These and other regulatory pressures are compelling SMEs to earmark often limited resources to more proactive compliance management. 

"Our groundbreaking self-subscription service makes best-in-class compliance software accessible to the most underserved segment of the markets," said BasisCode Compliance president and CEO Carlos Guillen.  "It gives SMEs tangible evidence that they are doing their part to improve communications and compliance in today's interconnected financial markets."

BasisCode's self-subscription service adheres to the Statements on Standards for Attestation Engagements No. 16 (SSAE 16), a globally recognized professional attestation and set of security and service quality standards used among software service organizations.