PROACTIVE COMPLIANCE
Protecting your Trading Business Integrity
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New Regulations for
Trading Floors...
„„ Sarbanes‐Oxley Act (SOx)
„„ Basel II
„„ OMB A‐123
„„ Data Privacy
„„ Check 21
„„ SAS 70
„„ Anti‐Money Laundering (AML)
„„ BSA
„„ PATRIOT Act
„„ MiFID
„„ Reg NMS
„„ Dodd‐Frank act
“…recorded
communications, including
electronic mail, instant
messages, and recordings
of telephone calls...”
Dodd-Frank Wall Street Reform and
Consumer Protection Act Section 731
(764)
Are Your Traders Compliant with all the
Regulatory Rules?
The Traders in your company need to comply with many
regulations and rules; company policies, regulatory rules and
compliance rules. But nowadays, Traders use many new and
complex methods of communication; not just the traditional
phone, but also mobile phones, email, instant messaging and
social media. You need to monitor all these communication
channels to watch out for any breaching of compliance rules.
And you need to evaluate and report on new and emerging risks
by creating management overviews and signalling on trends. For
this you need formal detection systems and the control over the
communication. This is the only way to be proactive on breaching
compliance rules.
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By effectively monitoring and aggregating results
from trading interactions, NICE Proactive Compliance
provides Trading Floors and Compliance departments
with insights and real-time impact tools with which to
constantly increase protection against fraud.
With NICE Proactive Compliance:
„„ Capture all interactions accross all channels
„„ Analyze interactions for possible fraud
„„ Discover potential new risks
The Result? Better Protected!
Compliance Solutions
Today’s strict regulatory environment has profound
effects on the systems and processes that power
the Trading Floor. To meet the growing compliance
challenges, the two NICE Compliance Solutions enable
organziations to ensure regulatory compliance across
the globe, improve business‐process efficiency and
minimize total cost of ownership (TCO). NICE offers
a complete approach for end‐to‐end Compliance and
Risk protection and analysis.
Compliance Essentials
Comply with regulations, initiatives and policies
globally. As an example, this solution enables Trading
Floors to adhere to new requirements for all media
recording storage and has advanced retention
management capabilities, which can flexibly serve any
regulatory requirement and litigation needs.
Proactive Compliance
With utilizing the NICE analytics capabilities we can
provide a proven solution for actively monitoring
regulatory, improving risk management and enhancing
efficiency of internal processes. Integrated interaction
analytics, speech analytics, playback workflow and
desktop analytics will flag and analyze potentially
risky calls, alert compliance officers and customize
investigation policies to comply with regulations.
Combining recording of all media used on a Trading
Floor, with sophisticated analytics such as advanced
text mining and Natural Language Processing, to
highlights hot topics.
Proactive Compliance features a Compliance
Dashboard, to support Compliance Officers workflows
and workflow management. This provides the flexibility
to adapt to evolving regulatory and business needs,
and lowers total operating costs.
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Reconstruct
NICE Proactive Compliance leverages advanced
analytics to perform analysis of the traders’
interactions. It controls the processes around
compliancy, discover what happens during trade
interactions, and it prevents possible risks and fraud.
With the multi-media playback features Trades can be
reconstructed as they happened.
Discover
As traders have thousands of interactions daily, the
solution’s real-time policy based monitoring can
determine “At-Risk” words, communications and traders
as it happens. The results of monitoring and analyzing
these interactions is displayed on the Compliance
Dashboard.
Trade Reconstruction with multi-media playback
Control
By actively investigating and controlling the traders’
interactions, decisions can be made on the basis of indepth analysis. A word search using phonetic speech
analytics may reveal possible market manipulation.
An automated workflow for authorization of replaying
a recorded interaction drives efficiency and better
control of the compliance processes.
Multi-channel Investigation Search
Compliance Dashboard
Prevent
With the cross-channel investigation search you are
able to find recorded evidence related to suspicious
transaction activity. Based on these communication
patterns, risk cases can be created in NICE Actimize*
and combined with transaction monitoring for suspicious
activities.
The workflow in NICE Actimize* for managing alerts &
cases decreases the compliance workload and increases
the operations efficiency. Automatic compliancy reporting
helps the compliance departments, and the authorities,
by determining were actions needs to be taken.
*) NICE Actimize is a NICE solution that integrates with NICE Proactive
Compliance
The Benefits of NICE Proactive
Compliance
„„ Maximize protection by finding hidden signals and
presenting indicators for potential risks
„„ Decrease penalties by implementing a monitoring and
analyzing system
„„ Empower compliance officers to improved procecess
by providing tools that help them achieve compliance goals
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New Compliance Regulations that require a Proactive approach
“Information must be accessible and formatted in a digestible form”
Dodd-Frank
“Market access rules with real time control/client flows”
“...need to reconstruct as the trade happened...”
MFID
FSA
“...timeliness of the response to queries, breaches...”
“All communication must be monitored by the same rules”
“Mobile exemption is removed” (Mobile Phones need to be recorded)
“…recorded
communications, including
electronic mail, instant
messages, and recordings
of telephone calls...”
Dodd-Frank Wall Street Reform and
Consumer Protection Act
Section 731 (764)
“…awards to one or
more whistleblowers
who voluntarily provided
original information…”
Dodd-Frank Wall Street Reform and
Consumer Protection Act
Section 731 [4s(g)(4)]
“……conducting
comprehensive
and accurate trade
reconstructions…”
Dodd-Frank Wall Street Reform and
Consumer Protection Act
Section 922
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ABOUT NICE
NICE Systems (NASDAQ: NICE), is the worldwide leader of intent-based solutions
that capture and analyze interactions and transactions, realize intent, and extract and
leverage insights to deliver impact in real time. Driven by cross-channel and multi-sensor
analytics, NICE solutions enable organizations to improve business performance,
increase operational efficiency, prevent financial crime, ensure compliance, and
enhance safety and security.
NICE serves over 25,000 organizations in the enterprise and security sectors,
representing a variety of sizes and industries in more than 150 countries, and including
over 80 of the Fortune 100 companies. www.nice.com.
TRADING FLOORS
NICE Trading Floor Solutions is a significant line of business within the NICE Enterprise
Portfoiio. NICE is the leader in this market, serving the largest financial services
organizations globally. NICE’s Trading Floor solutions respond to an increasing demand
in the financial services market, where regulatory compliance is on the rise. NICE is
focused on the Trading Floor market and has expanded its presence in this domain,
markedly through the acquisition of CyberTech International in 2011.
CONTACTS
EMEA, Europe & Middle East
APAC, Asia Pacific
T +44 0 1489 77 1200
T +852 2598 3838
Americas, North America
E-mail
T +1 201 964 2600
[email protected]
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