As part of the MyComplianceOffice platform, MCO’s Political Contributions and Donations solution provides access to comprehensive and regularly updated data at the U.S. federal, state and local level with one single system, allowing firms to proactively verify donation limits are not exceeded across jurisdictions.
Firms must be aware of the risk of violating pay-to-play rules and regulations governing political contributions to officials who could play a role in awarding future business. Even an inadvertent infraction can lead to fines, lost fees and reputational damage. Relying on employees to self-report donation activity and manually managing the process is both time consuming and risky.
MCO’s Political Contributions and Donations solution provides organizations with a centralized approach that provides access to powerful reporting and donation data and automates the management of employee political contributions, allowing compliance teams to:
- Easily manage, monitor and report on employee political contributions using reliable and updated U.S. political donation data
- Verify contributions against an independent data source
- Provide clear guidelines about restricted and permitted contributions
- Simplify the process for employees to submit preclearance requests and attest to donations given
- Configure customized rules
- Easily identify high-risk individuals and transactions
- Provide recordkeeping that shows regulators that employees are in compliance with pay-to-play laws
- Reduce the time and effort required to run a robust political contribution compliance program
MCO’s Political Contributions and Donations solution helps firms stay compliant with regulations including SEC Rule 206 (4)-5, FINRA Rules 2030 & 4580, MSRB Rule G-37 and CFTC Regulation 23.451.
One system to manage and verify
With the comprehensive data available in MCO’s Political Contributions and Donations solution, compliance teams no longer have to rely on employees to self-report their donation activity.
Political Contributions and Donations is part of the Know Your Employee (KYE) suite created to comprehensively address employee compliance. KYE sits on the MyComplianceOffice platform that can automate compliance programs for supply chain and 3rd party operations (KYTP), and for transaction surveillance (KYT). These three interconnected suites feature a central data center and cost-effectively address the challenges of Conflicts of Interest management and the risk of misconduct.
