Enterprise-level Compliance for SMBs

December 11th, 2006: ComplianceMax Financial Corporation has launched its new Small Business Compliance platform, saying it offers SMBs in financial fields enterprise-level compliance features without the associated costs.

Aimed specifically at small broker-dealer firms, Investment Advisers and Hedge Funds, ComplianceMax claims that its solution not only helps these companies achieve and maintain regulatory compliance, but is the only platform offering enterprise compliance technology without a comparable price tag.

The solution is a web-based compliance platform that is built around Resources, a systematic monthly compliance program designed for compliance officers. According to the company, the platform itself includes a centralised web portal, an engine to administer Firm Element Training and Compliance Disclosures such as Outside Business Activities and Personal Investment Accounts, and an automated supervisory workflow tool for submitting, reviewing and reporting Advertising & Sales Materials, Customer Complaints and Gift & Gratuities.

“Small firms are an inherently underserved marketplace and yet they comprise almost 85% of NASD member firms,” says Lisa Roth, President and CEO of ComplianceMax. “Government agencies such as the SEC, and regulatory organizations such as the NASD and NASAA, hold all broker-dealers to the same standards of compliance, irrespective of their size.”

“Until now, the capabilities provided by Small Business Compliance were simply out of reach unless you had a seven figure compliance budget,” says Mitch Porche, Executive Vice President in charge of product management at ComplianceMax. “We've been applying our research and development over the last several years toward solving this problem and we believe that this is a major milestone in that effort.”

The company says its prices for Small Business Compliance have minimal set up fees and ongoing licensing rates starting at $100 per associated person/year.

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