10:36 AM
RISK-MANAGEMENT TECHNOLOGY
UBS PaineWebber has selected Searchspace's Anti-Money Laundering software to meet new USA Patriot Acts requirements. PaineWebber's implementation, based on Searchspace's AML Sentinel 3.0, will expand upon UBS Switzerland's Searchspace implementation earlier this year for an enterprise-wide approach to monitoring transactions, determining risk and preventing money-laundering activity. Searchspace's software is based on adaptive Artificial Intelligence to analyze transactions and determine which should be looked at further by staff.
The Securities Industry Association has released its guidelines for business-continuity planning. The best practices describe what firms should include in plans for business continuity. Some of the areas covered include response plans, prevention and mitigation activities an ongoing employee awareness programs. Guidelines for accountability and a timetable for reviewing plans are also included with the best practices. The full document is available on the SIA Web site at https://www.sia.com/business_continuity/pdf/bestpractices.pdf. The SIA will also be holding its Business Continuity Planning Conference October 29th-30th in Brooklyn, NY.
RiskMetrics and Adhesion Technologies will jointly market a wealth management solution. The combined solution will integrate RiskMetrics' WealthBench portfolio analysis, optimization, multi-goal planning and monitoring solution with Adhesion's EA* Financial Consolidation Platform.