KM PolicyWatch, a breakthrough tracking system for harried compliance professionals, launched today.
seattle, WA (PRWEB) June 9, 2008 -— Bankers and broker-dealers who spend untold amounts of time, energy, and resources to stay on top of their industry’s constantly shifting regulatory landscape now have a formidable new weapon in their arsenal. Knowledge Mosaic LLC, a leader in web-based compliance solutions for highly regulated industries, today announced the release of KM PolicyWatch, a product created in direct response to feedback from the world’s leading investment and banking firms. The tool aims at what has become a tedious, error-prone, and complicated exercise for compliance professionals: amending their internal policy manuals to reflect the many changes that occur in Agency and SRO rules and regulations. KM PolicyWatch automates this process, linking a company’s data to the relevant external rule, and alerting the user when a rule is changed or added.
In recent years, the financial industry has felt the burden of an increasingly complicated regulatory infrastructure, along with federal and state legislation meant to make the industry more accountable for its practices. In such a climate, traditional methods of compliance are proving to be evermore time-consuming and labor-intensive. As a result, the industry has been eager for alternatives that promise improved accuracy, efficiency, and record-keeping ability.
Peter Schwartz, founder and president of Knowledge Mosaic LLC, noted his company’s new tracking system is designed to serve a wide variety of needs within the banking and broker-dealer sector, with a web-based platform that is customizable to a given organization’s unique needs and data. “We designed this product in consultation with individuals from the financial industry, so we’re confident in what it can do,” Schwartz commented. KM PolicyWatch tracks a myriad of proposed rule changes—synchronized with the exact sections and manuals that may be affected—and makes the data easily available for necessary updates. The system is also designed to assist with audit requests, as users can preserve snapshots of the status of rulemaking updates for any given time period, and create on-demand reports of essential information.
Schwartz said he and his colleagues in Seattle are excited about the launch. “We’re very optimistic, not only because we are proud of this product, but because it seems so well-suited for its moment. I don’t think it’s an exaggeration to say that KM PolicyWatch has the potential to revolutionize compliance management for banks and brokerage firms, in a way that is comparable to how the internet has revolutionized the way we manage and experience data. The playing field is much narrower, but the idea is the same. In a few years, we will look back on current methods of compliance management in much the way that we now view the electric typewriter.”
More detailed information on the product is available at www.kmpolicywatch.com.
About Knowledge Mosaic LLC
Located in the industrial underbelly of Seattle, Washington—amidst train yards and commercial fishing docks—Knowledge Mosaic LLC (www.knowledgemosaic.com) employs the most advanced digital technologies to serve the information needs of legal and financial professionals around the world. Knowledge Mosaic serves nearly 600 organizations, including numerous Fortune 500 companies, major accounting firms and financial institutions, as well as nearly all of the major North American law firms. Founded in 2001, Knowledge Mosaic has developed strong business relationships and a rapidly accelerating market presence by delivering high quality current awareness and research platforms and unparalleled customer service at very reasonable prices. Besides KM PolicyWatch, Knowledge Mosaic products include Securities Mosaic, SM Litigator, SM Risk, Energy Mosaic, and Communications Mosaic.
Contact:
Henryk Hiller
Vice President, Business and Legal Affairs
Knowledge Mosaic LLC
Phone: (206) 525-8395, ext. 1401
kmpolicywatch @ knowledgemosaic.com
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[Via Legal / Law]
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