About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

MCO Closes Acquisition of Schwab Compliance Technologies for Conduct Risk

Subscribe to our newsletter

Dublin-based conduct risk and compliance technology specialist MCO (MyComplianceOffice) has completed its acquisition of Schwab Compliance Technologies (SCT). The purchase – for an undisclosed sum – adds the ability to monitor employees’ trading activities to MCO’s product line and brings its client base to more than 1,300 firms globally.

SCT – which started life as Compliance11 Inc. – will now be known as MyComplianceTechnologies (MCT), and its 250 staff will be integrated with MCO based in offices in the US, Ireland, India and Singapore. MCO is also opening a new Chicago office as part of the expansion. Today, 95% of its clients are in capital markets, with 70%-80% based in the US.

MCO was spun out of Fidelity Investments in 2008 to focus on conduct risk and compliance. The company provides an integrated platform that monitors activity at the employee and firm level, as well as interactions with third parties. The platform monitors trading transactions, gifts and holdings, addressing Know Your Employee (KYE) and Know Your Third Party (KYTP) concerns for regulated entities.

The platform allows clients to identify conflicts of interest in employees’ activities, drawing on legal entity data, transaction data and holdings data to flag potential breaches of company policy, which usually reflect the company’s obligations under the regulations they are required to comply with.

The MCO platform is used across a range of capital markets firms, including asset managers, investment banks, interdealer-brokers and industry service providers and utilities. The platform is typically used by compliance teams, and ingests data from internal systems such as ERP platforms like SAP and PeopleSoft as a source of human resources data, as well as with transaction data repositories, entity databases and security identifiers.

SCT’s main focus is providing employee monitoring for corporate clients, and helping staff manage their finances through Charles Schwab bank and brokerage accounts.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Leveraging innovation in data management

Financial Institutions are going through considerable change as they look to deploy innovative technologies and solutions that could radically change data management processes and deliver operational and business benefits. This webinar will review innovation in data management – including technologies such as machine learning, pattern matching, artificial intelligence and solutions such as utilities and managed...

BLOG

Plenitude Targets Financial Crime Risk with ClientSight CRR Solution

Financial crime risk specialist Plenitude has launched ClientSight, a cloud-based client risk rating (CRR) solution. The platform is aimed at helping financial institutions, fintechs and professional services firms to assess the financial crime risk of both individuals and entities. ClientSight seeks to address regulators’ heightened activity around financial crime and sanctions. CRR is a key...

EVENT

RegTech Summit London

Now in its 6th year, the RegTech Summit in London will bring together the RegTech ecosystem to explore how the European capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Regulatory Data Handbook 2022/2023 – Tenth Edition

Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging...