MyComplianceOffice Blog

MyComplianceOffice is proud to be a first-time exhibitor the 2016 3rd Party Risk Management for Banks conference in Chicago this June 6 through 8.

The Financial Industry Regulatory Authority (FINRA) has fined Florida-based Raymond James & Associates, Inc. (RJA) $8 million and Raymond James Financial Services, Inc. (RJFS) $9 million for failures in anti-money laundering (AML) compliance. According to the regulator, the fines are a result of an investigation which revealed that for several years, RJA and RJFS were unable to deliver a sufficiently robust AML compliance program.

From fully automated personal trading supervision to advertising review, many of the day-to-day tasks of today’s compliance officers are wrapped up in the use of technology. As such, the relationship between compliance officers and technology has shifted.

MyComplianceOffice will exhibit their powerful software-as-a-service solution at the ninth-annual, Shared Assessments Summit in Baltimore, MD this week. The summit gathers high-level, international executives from all industries to compare and discuss the latest in best practices around third-party due diligence.

A broker-dealer headquartered in New York has selected the MyComplianceOffice (MCO) platform to manage its third party relationships. This new client has long been a trailblazer among investment management firms; it was the first in the United States to offer its clients the opportunity to diversify their investments globally. The financial firm is a first-time client of MyComplianceOffice but has a tradition of insight and acumen; its selection of MyComplianceOffice as a vendor for third party due diligence management is no different.