Bluewave Launches Compliance Asset Tracking Solution for Investment Banks

Bluewave, a UK subsidiary of Maersk Data, has launched a new Compliance Asset Tracking (CAT) solution for the compliance departments and research analysts of investment banks. The solution facilitates compliance with FSA and SEC mandates for disclosing potential conflicts of interest that may exist between a bank’s capital market activities and investment banking relationships.

The new CAT solution combines several processes and technologies into a single integrated application, which:

- Enables compliance departments to automatically record conflicts of interest such as investment banking relationships and analysts’ personal holdings
- Provides research analysts with automated disclosures when making investment recommendations
- Ensures appropriate conflict of interest disclosures are automatically supplied to relevant media when analysts issue investment recommendations
- Ensures that non-compliance automatically triggers exception and statutory reports for regulatory purposes. These electronic trails provide the bank with 'compliance-proof' records.

Tony Kypreos, Bluewave’s Chief Commercial Officer said: “Investment banks face a challenge in implementing effective processes for complying with regulators in governing, disclosing and reporting research analysts’ conflicts of interest while making investment recommendations to media and investors.

"Investment banks have enormous demands placed on them in dealing with the encoding, cataloguing, and indexing of data relating to conflicts of interest. Any discrepancies in this area could lead to large fines, class action lawsuits, and negative impact on share price. Compliance, therefore, makes business sense in maintaining investor trust."

"With our CAT solution, financial services institutions benefit from automating processes that allow the compliance, legal, securities research, and corporate finance and media departments to have access to up-to-date data relating to conflicts of interest and can automate the process to minimise potential errors."

Bluewave performs GAP analyses of the required workflows unique to each bank. The CAT solution is then deployed with seamless systems integration. The solution also supports XML, EDI standards for interconnectivity. The Data Logistics Server ensures that all digital assets across media are scheduled, distributed and archived, to produce automated disclosures and audit reports.

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