Is it challenging to keep up with Regulatory and Compliance requirements?
Axiom — Providing up-to-date compliance assistance and advanced regulatory change notifications
Finding more time to interact with clients and build your business can be daunting. There is no question the regulatory environment and compliance requirements are changing rapidly and increasing in complexity. For a small- to medium-size firm, it can be overwhelming to navigate the complexity of these changes and ensure that you are in compliance, not to mention that compliance costs and time allocations to compliance are increasing.
With Axiom, you will not be alone in this effort. The Axiom platform was built to address many of these issues. And, because Axiom provides services to hundreds of Investment Advisors, our regulatory expertise is extensive. Axiom will remain current on regulatory developments and impending changes, so we can provide advanced warnings and notifications as we work closely with our industry partners.
Axiom can provide ongoing consultative feedback to guide you in solving your day-to-day challenges with Regulatory and Compliance requirements.
Axiom's platform was built to ease your Compliance concerns
Cyber Security
There is perhaps no greater regulatory concern than cyber security.
Because of attacks on firms such as Experian, the Democratic National
Committee, Yahoo, etc., regulators have been increasingly concerned about
the security of your clients’ accounts. The Axiom platform is built to
address regulators concerns about cyber security.
The Axiom platform undergoes a third-party audit by a firm that specializes in security related issues which may address access to client accounts and potential vulnerabilities.
The Axiom platform undergoes a third-party audit by a firm that specializes in security related issues which may address access to client accounts and potential vulnerabilities.
Anti-Money Laundering compliance (AML)
Firms must comply with the Bank Secrecy Act and its implementing
regulations ("Anti-Money Laundering rules"). The purpose of the AML rules
is to help detect and report suspicious activity including the predicate
offenses to money laundering and terrorist financing, such as securities
fraud and market manipulation.
Customer Identification Program (CIP)
Otherwise known as "know your customer," the CIP is a US
requirement and a provision of the USA Patriot Act. Each financial
institution needs to verify the identity of individuals wishing to
conduct financial transactions with them. The CIP must be
incorporated into your practice’s Bank Secrecy Act/Anti-Money
Laundering compliance program.
Written Supervisory Procedures (WSP)
While Axiom cannot handle all the requirements of your WSPs, it
does assist and address those procedures related to ensure
oversight of the representatives' activities in handling customer
accounts. Some of the issues it does address are:
- Order execution
- Custody of customer funds or securities
- Review of customer orders
- Third-party audit of policies and procedures