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Flinks for Compliance: Stay on Top of Your Regulatory Requirements

By Flinks on August 31st, 2021

Reading Time: 4 min

The digital storm has made its presence felt across various industries. Sectors that mandate regulatory oversight, including finance, legal, consulting, and pharma, are not far behind.

Today, compliance teams and COOs in those firms still ask regulated employees to submit their investment statements, manually look for trading activities from a restricted list, and document the reconciliation process for auditing purposes.

You need operational efficiency when reviewing investment activities for your regulated employees to comply with conflict of interest regulations.

That’s why Flinks stepped in and launched Flinks for Compliance—an out-of-the-box solution that collects employees’ investment data and visualizes their transactions instantly in one dashboard, helping your compliance teams manage the disclosure of post-trading activities better and smarter than ever.

Jump start your compliance program with real-time data

Trusted and accurate data is the basis of your compliance program. Particularly, wealth management companies need to fulfill more stringent compliance requirements to safeguard company reputation, enhance investor confidence, and demonstrate market integrity.

With Flinks, you can level up your compliance strategy by taking steps towards phasing out manual reconciliation processes. Leveraging our financial data aggregation solution will allow your employees to connect their investment accounts, retrieve and submit trading data to your compliance team and/or COO in real-time.

What’s in it for you?

  • Reduce the time needed for data collection from weeks to minutes
  • Minimize errors and risks associated with manual data submission using a verified source of truth
  • Onboard your employees faster by connecting their accounts using our off-the-shelf UI 
  • Enhance operational efficiency and make more accurate trading disclosure

How does it work?

  • Host Flinks via a dedicated URL; no code, no dev needed
  • Alternatively, embed our front-end UI directly in your end-user experience
  • Securely connect to your employees’ brokerage accounts in minutes

Drive productivity with smarter reconciliation

Reconciliation is at the forefront of compliance in any regulated organization. Yet, searching through the list of restricted entities and comparing them against the statements received from employees is a burdensome process that could take days, if not weeks.

Flinks for Compliance ensures investment data integrity by eliminating the need for your compliance team to manually search through every investment statement to ensure that no illicit trades have happened. 

Once they connect their accounts, your employees’ account-level details and trading activities are presented clearly and thoroughly within our dashboard. The “Advanced Search” feature further enables your team to easily search, identify, and flag any stock of interest from the restricted trading list, then mark the audit as complete when all the regulated entities are correctly reconciled.

What’s in it for you?

  • Minimize manpower spent on identifying and flagging non-compliant investment activities
  • Bring speed and accuracy to your back office by replacing repetitive tasks
  • Simplify your compliance reporting with our built-in, easy-to-read reports
  • Optimize reconciliation with one single point of view of process, adherence, and insights

How does it work?

  • Access regulated employees’ investment data from a consolidated view 
  • Search restricted stocks symbols/tickers either by dropping a CSV file or manually input the list
  • Receive a comprehensive list of relevant details (including LoginId, employee name, symbol/ticker, date, and transaction amount) to run query
  • Store historic investment data for 12 months in one file, no more missing data
  • Flag, or confirm complete when your compliance team finishes the checks
  • Select all or a subset of employees, export their investment data as PDF or CSV to meet auditing requirements

Chart a path to post-trade supervision obligations

As many regulated firms have implemented technologies to reconcile pre-trade approvals with what employees actually traded, currently, there is no post-trade compliance solution in the Canadian market that offers a digital experience that empowers firms to adhere to regulatory rules and enforcement.

Organizations still need to rely on clunky processes and siloed systems—all the reconciliations are documented and submitted to a steering committee, then submitted again to IIROC if audited. This is laborious and error-prone, especially when dealing with large volumes of data.

Flinks is here to help you meet the challenge of adopting ever-changing legal mandates and fulfilling audit requirements. Integrate Flinks for Compliance seamlessly into your existing workflow and systems to simplify your post-trade reporting and enhance your compliance framework.

“I have 4 bankers boxes of PDF statements in my office, and Flinks removes the need for me to manually go through them. This will save me a ton of time.”
— Eugene Park, Compliance, Canoe Financial

Talk to our experts and let us help you overcome compliance hurdles. Flinks will steer you clear of any potential compliance roadblocks so that you can focus on other business priorities.

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