Press Releases
The Investment Center Selects SunGard’s Protegent for Supervisory and Surveillance Compliance Management
December 6, 2010 — Jersey City, NJ
The Investment Center Inc., three-time award winner for broker-dealer of the year by Investment Advisor Magazine, has selected SunGard’s Protegent Surveillance to help automate compliance surveillance processes and mitigate exposure to regulatory risks. SunGard’s Protegent Surveillance helps sell-side retail broker-dealers gain better visibility into trade and account data, identify questionable transactions and proactively fulfill supervisory responsibilities. The Investment Center will use SunGard’s Protegent Surveillance to help increase the effectiveness of its suitability review process for both direct-to-manufacturer and brokerage businesses.
As new rules and requirements emerge from the U.S SEC and FINRA, sell-side retail broker dealers must seek ways to comply with regulatory changes and maintain operational efficiencies. Automation helps protect firms from financial and reputational compliance exposure by increasing the ability to detect questionable transactions and proactively addressing issues prior to regulatory audits. Protegent Surveillance’s compliance rules library and review workflow will provide the Investment Center with increased ability to help monitor and detect abnormal account activity while providing evidence of being compliant with agency and internal written supervisory procedures.
Doug Wright, chief compliance officer of The Investment Center Inc., said, “SunGard’s Protegent Surveillance will help us gain greater transparency into our businesses activities and lower overall regulatory risk. The ability to identify questionable transactions will help us further protect our business, increase investor confidence and streamline our field supervision processes.”
Steve Sabin, chief operating officer of SunGard’s Protegent business unit, said, “Sell-side retail broker dealers are seeking adequate compliance, surveillance and supervision solutions for both their direct-to-fund and brokerage businesses. SunGard’s Protegent Surveillance will help The Investment Center improve operational efficiencies and actively manage growing regulatory changes by automating compliance surveillance processes across all its business lines.”
About SunGard's Protegent
SunGard's Protegent solutions for compliance, suitability and new account opening help retail and institutional investment firms oversee business processes relating to compensation processing, client acquisition and suitability, including Know Your Customer and OFAC list checking, as well as employees' personal trading and code of ethics, while helping reduce expenses and address regulatory requirements. Protegent supports supervision and surveillance practice, helps streamline the compliance life cycle, proactively monitors trades and provides comprehensive auditing and reporting for financial institutions and companies that trade in energy and commodities markets.
About SunGard
SunGard is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company. For more information, visit www.sungard.com.
Trademark Information: SunGard, the SunGard logo and Protegent are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.