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Our experts partner with compliance teams around the world to provide customizable, user-friendly software solutions designed to simplify every-day compliance processes while ensuring you meet the strictest regulatory standards.

Our system offers a host of benefits and reassurances for compliance leaders, compliance teams and technology specialists.

Automated conflict of interest detection and mitigation helps your compliance teams work better, faster and more effectively. The rigor of our reporting, surveillance, certification and security systems provides complete peace of mind for Chief Compliance Officers and board members.

Helping you to detect and prevent market abuses that could jeopardize your reputation and regulatory compliance. Actively manage insider lists and investigate employee trading in the context of current market activity and events.

Clear deals faster. Centralize deal data. Reduce your risk. Compliance Control Room lets you organize, manage, and monitor your firm's most important information flows from a single platform.

Whether for work or pleasure, it’s a mobile world. And a mobile workforce calls for mobile solutions. Introducing STAR Mobile. With STAR Mobile, employees pre-clear activity and report transactions on-the-go. Supervisors review escalated requests anywhere there’s a cell connection.

Create unlimited projects to easily manage and monitor dynamic lists of employees who have access to insider information.

Compliance Control Room's enterprise-level single platform centralizes all your firm's deal-related activity—letting you manage control room activities more efficiently and effectively.

Increase employee participation. Increase data accuracy. Increase responsiveness. STAR Mobile is a native app that makes compliance simple, easy, and convenient.

Automatically monitor employee state, local, and federal political contributions and reduce the risk associated with breaking pay-to-play laws. 

 

How To Keep Track Of Outside Business Activity

Compliance-process automation software like the STAR Platform can help your firm monitor and manage outside business activity with simplicity and ease. Steve Brown, veteran compliance officer and Head of Business Development at Star, tells you how

Whether it’s employees serving on other business boards or engaging with family and friends who work at competing firms, compliance teams need to know about their employees’ interests and activities outside the firm. Even if these interests don’t influence employees’ work, and even if the activity is completely honest and ethical, stringent regulation means firms must flag potential conflicts of interest to avoid even the appearance of impropriety. Anything else could lead to regulatory action and to damaged reputations for firms, compliance officers, and employees. Fortunately, FINRA’s guidelines regarding outside business activitiesare fairly clear-cut: “No registered person may be an employee, independent contractor, sole proprietor, officer, director, or partner of another person, or be compensated, or have the reasonable expectation of compensation, from any other person as a result of any business activity outside the scope of the relationship with his or her member firm.” 

FINRA dictates that employees provide written notice to the firm of any intent to conduct outside business activity. Then, the firm must determine whether the activity would compromise the employee’s responsibilities regarding the firm and its clients. FINRA’s outside business activity regulations also dictate that firms track and preserve all activity-related records. Of course, this is a lot for compliance teams to oversee, especially for those who still rely on manual or semi-manual monitoring processes. Fortunately, advances in software and automation over the past decade makes the monitoring of outside business activityeasier than ever.

MONITORING AND MANAGING OBA WITH STAR
Guiding a firm away from regulatory trouble and safeguarding its reputation is a tall task for compliance officers, but Star software can make it easier in the following ways:

1. EASY DECLARATIONS
With many fully configurable forms and features, our regulatory compliance software makes it easier for employees to declare outside business interests. They can report from anywhere at any time with the STAR Platform. The STAR Platform dashboard also makes it easier for compliance teams to surface potential conflicts of interest by documenting charitable donations and activities regarding connected individuals, such as family members and friends, who work for outside firms. Compliance officers can apply filters, run queries, and pull reports to keep everyone in the know and reduce the chance of regulatory infractions. 

2. PRE-CLEARANCE CAPABILITIES
Star software can also integrate data from other internal business systems—such as order management and human resources—to help compliance teams make quicker, better-informed decisions regarding each outside business activity declaration submitted. Compliance officers configure the software using this decision-making data, preferred wording, and specific questions to set up pre-clearance or clear requests in real time with ease. 

3. SIMPLER CERTIFICATIONS AND ATTESTATIONS
Along with simplifying the declaration-clearance processes, our regulatory compliance software also allows compliance to more easily sort and assemble employee data into certifications and attestations. Teams can then distribute them companywide for completion. All of this activity is tidily tracked and dutifully recorded by the STAR Platform. If FINRA ever does come knocking at your door, these highly accessible and auditable records can serve as proof your firm is doing everything in its power to monitor and manage outside business activity. 

If you’re looking for a clearer picture of outside business activity, look no further than the STAR Platform. It’s user-friendly—with drag-and-drop fields, prebuilt and configurable reports, and easily accessible dashboard analytics—and is invaluable in helping you visualizeoutside business activity from a 360-degree perspective. 

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With clients in 114 countries, StarCompliance is a global leader in financial compliance technology. Our scalable, easy-to-use compliance software solutions provide a 360-degree view of employee and business activity to help firms monitor for conflicts, reduce risk, meet regulatory obligations, gain efficiencies, and drive employee adoption. To see what Star technology can do for you, book a FREE demo now.

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