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: Tackling data management pain points in the run up to MiFID II

With the 3rd January 2018 compliance deadline for Markets in Financial Instruments Directive II (MiFID II) just weeks away, what data management pain points is your organisation trying to heal? Could they jeopardise your compliance with the regulation? The webinar will discuss outstanding pain points, data management priorities, solutions and workarounds. It will also consider...

BLOG

NICE Actimize GenAI Solutions Cut Crime Investigation and SAR Filing Time

NICE Actimize, a provider of financial crime, risk, and compliance solutions, has released generative AI solutions designed to reduce the time and manual effort traditionally required for financial crime investigations and compliance reporting. The company suggests the solutions offer up to a 50% decrease in investigation time and a 70% reduction in Suspicious Activity Reporting...

EVENT

TradingTech Summit London

Now in its 14th year the TradingTech Summit London brings together the European trading technology capital markets industry and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Directory of MiFID II Electronic Trading Venues 2018

The inaugural edition of A-Team Group’s Directory of MiFID II Electronic Trading Venues 2018 offers a guide to the European landscape resulting from new market structure introduced by the January 3, 2018 implementation of Markets in Financial Instruments Directive II (MiFID II). The directory provides detailed profiles of more than 70 venue operators and their...