Complinet expands its global regulatory affairs team to meet unprecedented demand for Tracker Wednesday 28 November 2007 PDF Print As the pressure increases on compliance professionals, so does the need for timely information and expert analysis. Complinet has expanded its global regulatory affairs team, which delivers relevant analysis and practical commentary for regulatory changes to users of Tracker. London, UK and New York, NY — November 28, 2007 — Complinet, the leading provider of solutions that dynamically deliver relevant compliance intelligence to industry professionals, has expanded its regulatory affairs team to support high demand for its Tracker service. This has arisen from increasing volumes of regulation in major financial centres worldwide. Launched in September 2007, Complinet Tracker is a web-based tool that provides financial organisations with a single, enterprise-wide "early-warning" system for upcoming regulatory changes. It continually monitors significant regulatory events at more than 50 major international regulators and exchanges, and alerts compliance professionals to changes through XML feeds, a widget-based online portal and email alerts. Since its launch, 40 financial institutions in the US, Europe and Asia have started to use Tracker, which reflects a global, industry-wide need to remain on top of current and future changes in the regulatory environment, and to reduce the risk of missing critical deadlines. In addition to the daily update service, Complinet has responded to demand for quality analysis that will enable compliance professionals to assess the potential impact of a consultation paper, speech, or proposed rule change. By recruiting new members to its regulatory affairs team, based in the company’s offices in New York, London and Dubai, Complinet has ensured a constant flow of high quality and relevant impact analysis to accompany Tracker alerts. Complinet’s regulatory affairs team is composed of industry professionals, all of whom have previously held senior roles within the financial services industry as compliance executives, lawyers and regulators. They have the experience and expertise to accurately determine the relevance and impact of new and changing regulations, and to place these changes in the appropriate context for compliance officers who work in different roles, organisations, and geographical locations. The contribution of the regulatory affairs team is an integral part of the Tracker service. The team delivers detailed and highly relevant analysis of each new regulation or regulatory change, and summarises the mass of dialogue surrounding it. This ensures that Tracker clients always receive the best and most relevant information about how each new rule or modification affects their organisation and their role within it. Maria Redmond, who heads the regulatory affairs team in London, said: "The pace of regulatory change has intensified. Major market events, such as the collapses of the sub-prime market in the US and Northern Rock in the UK, have highlighted the need for compliance teams to stay on top of regulatory announcements. "2008 will be a very busy year for regulators. A number of EU member states have, for instance, yet to implement the Markets in Financial Instruments Directive. Compliance professionals in the US must grapple with increasing regulatory convergence. Firms need as much warning as possible to plan successfully and to manage regulatory change. This is where Tracker’s alerts and impact analyses deliver significant value." Complinet is already seeing financial services firms use Tracker in two different ways. Smaller firms are using it as a solution where they do not have large resources; big firms rely on it to support compliance teams. Tracker follows events at more than 50 exchanges and regulators. These include: the Financial Services Authority, Euronext, the London Stock Exchange, the Bank of England, the Securities and Futures Commission (Hong Kong), the Qatar Financial Centre Regulatory Authority, the Securities and Exchange Commission, FINRA, NASDAQ, the Chicago Board Options Exchange and the American Stock Exchange. About Complinet Complinet is the leading provider of solutions that dynamically deliver relevant compliance intelligence to industry professionals within the highly regulated global financial services community. Complinet enables customers to minimize their exposure to risk by providing the information and technology they need to track and connect live external events, such as regulatory or sanction changes, with internal policy management and screening activities. Complinet was founded in 1997 and employs more than 200 people in its offices in New York, London and Dubai. Every day, industry professionals in more than 1,200 firms across 81 countries rely on Complinet to provide information, analysis and solutions to help them keep pace with changing regulations. In August 2007, Financial News named Complinet as one of the 21 technology companies most likely to shape the future of the financial services industry. www.complinet.com Media contacts: Sally Forge or Hazel Butters Prompt Communications Ltd Tel: +44 208 996 1650 / 0779 9146 803 firstname.lastname@example.org / email@example.com This press release was distributed by ResponseSource Press Release Wire on behalf of Prompt Communications Ltd in the following categories: Personal Finance, Business & Finance, Public Sector, Third Sector & Legal, Computing & Telecoms, for more information visit http://pressreleasewire.responsesource.com/about.