Z

Compliance
Management

 

For over 25 years Terrapin has provided regulatory compliance management solutions to financial services organizations.  Now, more than ever, you need a strong technology partner to navigate the new rules and regulations and the rapid pace of change in all aspects of your organization.

Our robust data aggregation platform integrates numerous sources of data, enabling clients to eliminate manual processes such as spreadsheets and actively engage with the data in a secure web based application.

We are continually upgrading Pandia, our SaaS application, to be in accordance with the financial industry’s tumultuous regulatory environment. From trade supervision to new DOL fiduciary standards, Terrapin is here to make sure every compliance related need is met.

 

Suitability and Trade Supervision

Pandia’s interactive rule and exception based reporting manages the compliance aspects of trade management. Pandia helps firms gain trade oversight and suitability compliance via a comprehensive suite of compliance reports.

Sampling of Reports:

  • Active Trading
  • AML Trade
  • Customer Account Liquidation
  • High Risk Customer Activity
  • Risk Based Trade Review
  • Trade Cancellation

In addition, online Trade Blotter and Compliance Report reviews are tracked. Linked with Compensation and Commission Processing, licensing rules for paying commissions are automatically enforced.

DOL Fiduciary Rule Compliance

Account level DOL indicators are introduced to flag and track accounts impacted by the DOL rules. We use two different types of indicators:

  • Fiduciary Indicator: fiduciary account type, such as ERISA fiduciary account, grandfathered account, preexisting IRA
  • Exemption Indicator: the strategy used with this account, such as BICE Grandfathered, BICE Exemption active

Pandia’s new investment review feature alerts on DOL related accounts that require the advisor to meet with the client on the account anniversary. This new feature makes use of Pandia’s notes tool as a flexible method to document meeting reason and results. The type of topics discussed (ex: retirement planning, education planning, succession planning), and the details of the discussion (buy, open 529, redeem) are logged in a note field. This documentation can be tied to multiple accounts.

License Manager

License Manager is designed to help organizations in banking, insurance and financial services markets to proactively manage adherence to license requirements with security exams, insurance licenses, and carrier appointments. License Manager will import data from sources such as FINRA’s Web EFT and RegEd and integrate that data into Pandia. License Manager allows organizations to manage trade information and license information in the same system and is designed to help compliance managers oversee regulatory compliance in real time.

Books & Records

Regulatory rule compliance management for customer account records and correspondence (SEC Rule 17a-3). Letters are generated, mailed, and tracked via the system. Correspondence includes 36-Month mailing, address and name change letters, and carrier broker and branch update letters.