PRESS RELEASE: London – 8:00 am, Tuesday 9th February, 2021:
In a world of increasing regulation and heightened regulatory scrutiny, the requirement for organisations to meet legal and regulatory obligations has never been more important. This has become even more complex and time-consuming due to constantly evolving laws and regulations, set against a backdrop of increased enforcement actions resulting in costly fines, potential reputational damage and loss of investor confidence.
Despite this exposure, many financial institutions either do not have in place a comprehensive Obligations Register or are maintaining a solution that adds complexity and unnecessary costs, and all too-often does not provide compliance teams with the assurance they need. Confident that the industry needed a more efficient and effective approach to managing FCC obligations, Plenitude developed RegSight working first-hand with leading global financial institutions.
Plenitude RegSight provides a cloud-based technology platform to identify and manage FCC obligations, improve operational efficiency and ultimately drive more effective financial crime risk management. RegSight enables the immediate identification of specific legal and regulatory obligations across a multitude of sources, jurisdictions and FCC domains along with corresponding regulatory and industry guidance, including the latest UK laws and regulations post Brexit. Compliance teams are able to use RegSight’s proactive horizon scanning to anticipate changes in relevant laws and regulations ahead of time and also quickly identify any potential gaps in their Policy Framework through the self assessment tool.