Large Regional US Broker Dealer Updates Employee Compliance with MCO

INDUSTRY: Broker Dealer

COMPANY SIZE: 2,300 employees

LOCATION: United States

The Company

One of the largest regional broker-dealers in the US, the firm offers fixed-income brokerage, equity research, wealth management, and retirement planning, and acts as a market maker for some 300 listed stocks. It also provides investment banking services such as public offerings, private placements, and mergers and acquisitions support to emerging and middle-market companies.

The Challenge

The firm needed to replace its outdated employee compliance solution. Compliance and firm leadership had concerns about the veracity of the reporting and the amount of paper that the system generated. Both compliance users and employees were not satisfied with solutions usability and interface. They were looking for a platform with a wide breadth of solutions, effective automation with the ability to customize and stellar service.

UK Wealth Management Firm

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The MCO Solution

The firm decided that MCO’s Know Your Employee solution provided the best in breed compliance technology that the firm’s leadership was looking for, deciding to implement MCO's Personal Trading, Gifts and Entertainment, Attestations, Outside Business Activities and Political Contributions and Donations.

One of the key reasons that the firm chose MCO was flexibility., and the ability to customize forms, attestations and reports to best meet firm needs. Customer support was another deciding factor. The team was impressed with implementation plan and the team that they would be working with, knowing that MCO will keep the team on track and impart best practices as part of design and deployment.