Compliance Newsflashes: Keeley Asset Management Selects Financial Tracking for SEC Compliance, and more

Keeley Asset Management Selects Financial Tracking for SEC Compliance

Keeley Asset Management, a Chicago-based investment management firm with more than $1.9 billion under management, has selected Greenwich, Conn.-based Financial Tracking Technologies (FTT) for SEC compliance solutions. FTT is a financial software and financial data processing company that provides automated and consistent data scanning. Companies use its technologies to detect undesired trends in securities and financial portfolios and material violations of compliance requirements. FTT's areas of service include mutual fund service provider oversight, fair and timely trade allocation, anti-money laundering, portfolio process consistency, pre-trade clearance, automated 204A-1 reporting, best execution, favoritism/decision checking, excessive account activity alerting and safeguarding of client assets.

--Travelex Selects Norkom Technologies' Anti-Money Laundering and Compliance Software

Travelex, a London, England-based foreign exchange company, has implemented Norkom's Anti-Money Laundering & Compliance software to detect suspicious behavior across its range of international travel and financial products. The software will be used to profile and case manage possible anti-money laundering activities, and produce compliance reports as required by the various local, national and international financial regulators. "The perpetrators of financial crime are often non-account-based customers, and so it is imperative for financial institutions to strengthen their defenses in the course of transaction-based business," said Paul Kerley, chief executive officer at Norkom, in the press release.

--AOL Chooses FaceTime for Instant Messaging Security and Management

America Online (AOL) has entrusted FaceTime, a Foster City, Calif.-based security and management software provider, with the responsibility and authority to federate with its messaging network. The new capability in FaceTime's IMAuditor server will process, authenticate and manage customers' passwords and identification information within their local networks thus removing the requirement to send this confidential data through the Internet to AOL. In addition, FaceTime will provide the technology that decrypts and logs encrypted messages sent over the AIM service to enable secure, compliant enterprise instant messaging practices.

"Entrusting passwords for the AIM service to a third party is a major responsibility," said Brian Curry, vice president, AOL Premium and Subscription Services, in the press release. "This announcement indicates the level of trust we have in FaceTime and the strength of their technology to securely authenticate and manage passwords and IDs, as well as log and decrypt encrypted messages sent through the AOL messaging network."