Technology, if correctly utilized, can create significant efficiencies for the majority of compliance departments. SEC3 has partnered with BasisCode Compliance, an unaffiliated provider of a suite of robust compliance software solutions that are used by some of the world’s leading financial services, consulting, legal, accounting, fund administrators and broker-dealer organizations. As an original member of BasisCode’s Steering Committee, SEC3 has developed a strong working relationship with BasisCode and has been able to help drive the creation of new and enhanced features.

SEC3 employees a unique methodology to capture the strengths of BasisCode, which are tightly integrated with a client’s written policy and procedures to provide a holistic, transparent view of their compliance program in real-time, ultimately reducing SEC exam risk. BasisCode’s core modules include:

  • risk assessment
  • testing and certifications
  • personal trading
  • gifts and entertainment, and
  • whistleblower

BasisCode streamlines the management of personal trading including pre-clearance and post clearance, trade request analysis and employee-managed or direct feed brokerage options. As an add-on module, BasisCode also offers a unique and proactive approach to monitoring insider trading that enables users to detect suspicious or abnormal trading that may violate their policies including the misuse of material non-public information.

Exam readiness is probably the greatest benefit of BasisCode if utilized correctly. Through SEC3’s unique processes, SEC, NFA and FINRA registrants will be able, in a matter of hours or a few days, to complete a routine request list and monitor its SEC exam readiness.