Many years ago, when I was still working at Reuters, long, long ago, the marketing manager came to me. Mr. Fabisch, it would be terrible if the media said our cookies made people impotent and I was the last to know about it. That was a clear and sufficient description of the problem. He wanted to monitor what appeared in the media about his company.
Today, the problem for compliance offices is far more complex. When onboarding new customers, you have to check very carefully what negative news is known about your (future) customers. And about their companies, and subsidiaries, and minority holdings…again, a case from our practice. While automatically checking a specific case of one of our clients during a product presentation (he had been busy researching for days), it turned out thata two of the former directors of a subsidiary company had been executed for corruption. An admittedly macabre case, but from real life.
However, it is now also a matter of determining whether there are securities of any kind in the portfolios about which negative facts are circulating. If so, then a very careful risk assessment must be made.
Automating the processes for adverse media screening not only saves an enormous amount of time and money compared to manual research. It also offers significantly more security, as more sources can be examined.
For decades, b-next has been a reliable partner for all topics related to capital markets compliance. Our standard product CMC:eSuite is constantly being expanded with additional useful and helpful functions and applications for the compliance office.
b-next offers interested companies the opportunity to get to know the software in individual demo sessions. You can register at firstname.lastname@example.org.