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Wednesday, 26 March 2014

An Ethical way of managing the compliance departments

Insider trading and gift management is quite a risqué task. Getting caught in one of those trades, could be a serious liable offence. Compliance Department these days are working around smart trade. Their objective is to ensure that an organization has systems for internal control that adequately measure and
“ETHICS”, the word does not strike cords with compliance departments. Well!  Employee trading History and Insider compliance system (ETHICS) is a product of Arowana.
An online product (personal account dealing and gift register system) for all Employees interested in trading financial instruments, where both compliance and management approval is required plus an online capability to register the receipt & giving of gifts within any Organization.
Arowana has built a software system which will automate the current manual process of Personal Account Dealing and maintaining the Gift register of all relevant employees who wish to trade in various instruments (Stocks, Bonds, and Shares etc.) will be covered under this system rules. The system will record gifts being given or received by them as well.
The system will ensure expected level of corporate compliance/approvals in managing the aspects of corporate governance and enable the company to present the regulators with evidence that their employees are in compliance with pertinent rules & regulations prevalent in the country with regards to Insider trading.
So now compliance departments have a system that has a key aspect of being closely linked with the management of bribery and corruption, more elaborately enacted under the Bribery Act and FCPA.


Highlights for Insiders Trading:
§  Pre-trade clearance
§  Minimum holding period and trading in window close period violations to your notice.
§  Trading Validation and Trading restrictions
§  Unusual trading patterns alerting
§  Pre-clearance and reporting of gifts, entertainment and outside business activities,
§  Master view of compliance tasks and cases for the compliance officer,
§  Multiple restricted lists,
§  Pre-loaded forms of Exchange
§  Customized to do list and task tracking for each employee
§  Global security master
§  Automated Alert Correlation

§  Scheduled automated email triggers for Reminders and Escalations
  

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