Your challenge regarding the processing of duplicates
Supervision of employee transactions
Banks and asset managers are required to review the securities transactions of certain employees for legality with regard to insider trading prohibitions and market abuse regulations. For this purpose, employees often choose a duplicates procedure. In this procedure, the custodian bank or broker sends a duplicate of all securities receipts to the compliance department of the bank or asset manager where the respective person is employed. Upon receipt of the duplicate, the bank or asset manager - on the basis of the information contained in the duplicate - carries out the prescribed checks on employee transactions.
The process for monitoring employee transactions by the compliance department is currently mostly a manual process. The information relevant for the monitoring of employee transactions is often typed manually from the duplicates received directly into the existing compliance tool to assess the legality of the transactions. The manual entry can have the following negative effects on the bank or asset manager:
- Repetitive and time-consuming process ties up valuable resources
- Increased error rate during manual entry impairs data quality
- Media break between physical documents and digital compliance tool results in increased administration and archiving effort
More efficient design necessary
By integrating a digital solution, the effort of manual typing including physical archiving can be significantly reduced, thus streamlining the entire process of monitoring employee transactions
Our solution - Increased efficiency through automated read out of securities receipts
PwC has developed the Personal Account Dealings Automation (PADA) Tool that digitally reads duplicates of securities documents and can automatically import the extracted information into existing compliance tools of banks or asset managers. The process of manually reading duplicates is thus automated, making it much easier to monitor employee transactions. The automation results in the following added value for the bank or asset manager:
Automation of the readout process of duplicates and the import of information relevant for monitoring employee transactions into the existing compliance tool ensure increased data quality by reducing errors.
Savings or redistribution of resources possible through a significant increase in efficiency in the readout process, the archiving of duplicates and reduced administrative effort through digital storage of duplicates (GDPR-compliant deletion taken into account)
Easy implementation and installation of the tool in the IT landscape and connection to existing systems (e.g. compliance tool) via API interface
Ongoing maintenance of the tool and further increase in efficiency through continuous improvement of the readout quality in addition to the use of economies of scale
Digitize the supervision of employee transactions
The advantages of the document analysis tool at a glance
The prices depend on the previously determined contract duration and are to be understood excluding sales tax. Please contact us regarding different contract durations and the costs for implementation.
|0 to 5.000||€ 2.49|
|5.001 to 10.000||€ 2.39|
|10.001 to 20.000||€ 2.29|
|20.001 to 30.000||€ 2.19|
|0 to 5.000||€ 2.29|
|5.001 to 10.000||€ 2.19|
|10.001 to 20.000||€ 2.09|
|20.001 to 30.000||€ 1.99|
|0 to 5.000||€ 2.09|
|5.001 to 10.000||€ 1.99|
|10.001 to 20.000||€ 1.89|
|20.001 to 30.000||€ 1.79|
Be part of the compliance of the future
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