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Free online networking site for financial services has expanded to 41 countries since October

New York, NY and London, UK – March 11, 2008 – MyComplinet, the first online community for compliance professionals in the global financial services industry, has announced new networking features which are available immediately to its 19,000 users across Europe, the Americas, Middle East, and Asia Pacific.

MyComplinet is a professional online networking platform that acts as a social and professional forum; it was launched in October 2007 by Complinet, the leading provider of dynamic and connected risk and compliance solutions to the global financial services industry. It connects compliance specialists in financial institutions, allowing them to network and to share ideas to resolve market-wide challenges created by the volume and complexity of industry regulations.
MyComplinet is free to join for compliance professionals in the financial services industry, and has attracted 19,000 members since its launch. As well as being a place to meet and network, the site also offers newsfeeds, expert analysis and other specialist information services from Complinet and third-party providers.

The updated version of MyComplinet offers a range of new networking and information features, including monthly bulletins and enhanced messageboards covering a broader range of subject matter. Current popular topics include founders’ percentages in IPOs; questions about regulatory training; time-sensitive subjects such as treating customers fairly, which has a March 31 deadline; discussions on whether charitable donations can be considered as inducements; and the implementation of the 3rd EU Money Laundering Directive across Austria, Cyprus, Germany, Italy, and Romania. A hot topic for the MyComplinet members based in the Middle East is the liability of locally based compliance officers.

Other features include a compliance blog that subjects breaking market news to expert analysis and opinion as well as providing a tongue-in-cheek look at the industry through cartoons and humour.

Paul Johns, chief marketing officer for Complinet, said: “Compliance professionals worldwide face a number of common challenges. We noticed a lot of collaboration and information exchange taking place at industry events, which made us think there was a gap in the market for a permanent place where compliance executives could come together to share views, problems and best practices. MyComplinet was born, and the fact that 19,000 professionals have signed up in five months shows just how much a single online exchange and meeting place is needed. We are adding new features and new users all the time, so the benefits of joining can only increase.”

Johns concluded: “If you compare the increase we have seen in subscribers and messageboard activity to the continual decline of broader social networking sites such as Facebook, MySpace, and Bebo, it suggests that the specific social networking sites such as MyComplinet are the future of the genre. In the last three months we have seen a dramatic increase in messageboard activity and sign ups. Messageboard activity has doubled and we receive a great deal of positive feedback about the service, its features and its availability from the MyComplinet community. People want to share specific and useful knowledge, not just poke people and share pictures of their cat.”

Compliance industry professionals can sign up for mycomplinet free of charge at http://www.complinet.com/community

Existing members are from the following countries:

Argentina
Australia
Bahrain
Belgium
Bermuda
Canada
Cayman Islands
Czech Republic
Egypt
Estonia
France
Germany
Guernsey
Hong Kong
India
Ireland
Israel
Jersey
Jordan
Kuwait
Lebanon
Luxembourg
Malaysia
Netherlands
Oman
Pakistan
Poland
Portugal
Qatar
Romania
Saudi Arabia
Singapore
South Africa
Spain
Sudan
Switzerland
Togo
Turkey
Ukraine
United Arab Emirates
United Kingdom
United States

About Complinet

Complinet is the leading provider of dynamic and connected risk and compliance solutions to the global financial services industry. The company’s solutions minimise exposure to risk by providing the information and technology 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 that help them keep pace with changing regulations.

Financial News recently named Complinet as one of the 21 technology companies most likely to shape the future of the financial services industry. For more information, please visit: www.complinet.com

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