Compliance11 and Evare Partner to Help Financial Firms Better Manage Employee
Personal Trading Activity
Partnership Brings Electronic Brokerage Feeds for Employee Trading Accounts to
Small and Mid-Sized Firms
CHICAGO and BURLINGTON, Mass., July 28 /PRNewswire/ -- Compliance11(TM),
Inc. a leading provider of regulatory compliance management solutions, and
Evare LLC, a leader in financial data acquisition, enrichment, transformation
and delivery today announced a strategic alliance.
Compliance11 will leverage Evare's cutting edge data technology to provide
its customers, broker-dealers and investment advisors, the ability to
electronically and securely access employee trading account information from
outside brokerage firms. The ability to access electronic brokerage confirms
has traditionally only been available to firms who have a large number of
employee accounts at a broker and have a large IT staff to support the data
integration.
The key to being able to offer this service is Evare's data engine coupled
with Compliance11's Software-as-a-Service (SaaS) model. Each brokerage
provides a feed to Evare who in turn provides a single feed to Compliance11,
all with no IT involvement. With electronic brokerage confirms in hand, firms
can use Compliance11's personal trading software to reconcile the brokerage
confirms with employee pre-clearances and/or identify potential areas of risk
by producing analytical reports. By expediting the process and offering an
intuitive software application to manage, monitor and report on the employee
trading information, firms can be confident that they are meeting current
regulatory compliance requirements comprehensively and efficiently.
Larry Goldfarb, co-founder and chief sales & marketing officer at
Compliance11 said, "Our agreement with Evare gives us an opportunity to
provide our customers immediate access to their employee trading account
information. Many small to mid-sized firms struggle to get this information
from the brokerage houses preventing them from monitoring employee personal
trading activity in a timely manner. We believe this gives us a competitive
advantage in this increasing regulatory environment."
Bryan Gleason, Evare's president and chief financial officer is quoted as
saying, "We are very excited about partnering with Compliance11 in support of
its strategy. Automating compliance data of employee trading accounts held at
broker/dealers for Compliance11 and on behalf of its clients is a big win for
both of our organizations."
About Evare LLC
Founded in 1996 and headquartered in Massachusetts, Evare LLC is a managed
utility service provider for financial data acquisition, enrichment,
transformation and delivery. Evare serves as a data transformation hub for
over 300 asset managers, broker/dealers, custodial institutions, banks,
corporations and their respective clients worldwide. Evare also supplies
desktop applications to municipal and government agencies.
As a member of SWIFT, Evare has access to over 8,200 institutions in more
than 200 countries. Evare provides services for link and data management that
adapt each set of communications to the system, process, and format each
client or counterparty prefers. Member / concentrator services are
administered by Evare which makes moving towards internal and external STP
quick, easy and cost effective. To learn more, visit http://www.evare.com.
About Compliance11
Compliance11, Inc. is a leading provider of regulatory compliance
management solutions. The Company's Software-as-a-Service (SaaS) application,
the Compliance11 Supervisory Suite, addresses a critical need for compliance
officers to meet current regulatory and supervisory guidelines. The
Supervisory Suite automates and effectively manages employee personal trading,
affirmations & disclosures, gifts and case management. For additional
information visit http://www.compliance11.com.
Contacts:
For Compliance11:
Larry Goldfarb
312-676-2041
lgoldfarb@compliance11.com
For Evare LLC:
Bob Mansmann
781-685- 2467
rmansmann@evare.com
SOURCE Compliance11, Inc.
Larry Goldfarb of Compliance11, Inc., +1-312-676-2041,
lgoldfarb@compliance11.com; or Bob Mansmann of Evare LLC, +1-781-685-2467,
rmansmann@evare.com
