JM Finn has entered into an agreement with regulatory and compliance software provider Redland.
This partnership will allow JM Finn to provide an integrated software solution to support the investment manager’s compliance obligations under Accountability II, which all solo-regulated firms are required to meet by December 2019.
The solution will be based on Redland’s senior managers' regime (SMR), training and competence (T&C) and certification software and will be sent to over 300 JM Finn staff who will have to follow the conduct rules.
Redland’s software will also include performance appraisals, training for conduct rules and aims to deliver one accountability solution across the whole business.
JM Finn have decided to undertake a holistic approach to people, process and regulatory management, which means unifying a range of systems including: human resources, training and advice systems. The aim of this is to allow a single view of all compliance activity across regulated and non-regulated business functions.
Steven Sussman, chief executive JM Finn, commented: “The SM&CR regimes will impact most aspects of our business. Our strategic approach will deliver numerous operational benefits and help protect our business, our staff and ultimately, our clients.
"After conducting a thorough market assessment of software vendors, we chose Redland for their proven software and their regulatory expertise.”
JM Finn is an investments and portfolio management firm with over £9.3 billion of funds under management and administration on behalf of over 23,000 client accounts, as at 30 December 2017.