MyComplianceOffice Blog

New York, 13 June, 2023 - MyComplianceOffice Inc (MCO), a leading provider of conduct risk and compliance technology, is pleased to announce the acquisition of Fairwords, a pioneer in AI-powered electronic communications software that simultaneously captures digital communications while proactively enforcing policy and can even train employees as they type. 

Hong Kong has become one of the most corruption-free nations in the world. The Transparency International 2022 Corruption Perceptions Index (CPI), the most widely used global corruption ranking system, lists Hong Kong as the 12th most ‘clean’ nation out of 180. The system measures how corrupt a country’s public sector is perceived to be, according to experts and businesspeople.

A while back “build vs. buy” was a hot topic when firms were looking to implement new or updated compliance technology. That debate has faded into the background a bit as the industry has shifted to the adoption of SaaS technology as the standard for compliance software.

But for firms that still have systems that were internally built embedded within their organization, the question of when it’s time to sunset their legacy platform and move to a more modern SaaS-based solution remains.

The financial services industry brings substantial responsibilities for those working within it, often far beyond other professions. After all, dealing with money brings significant consequences when managed incorrectly. The outcomes of improper financial management, unethical behaviour, and conflicts of interest can impact not only the lives of clients but also financial advisers who fail to meet the standards of regulators or their firms.