“The positive employee response was unexpected. People like the idea of solving Compliance issues on the computer instead of manually responding to 15 forms.”
CCO - 20 Person Investment Advisor
“The Compliance11 team is very responsive, provides outstanding customer service and is always ready to hear suggestions. It’s almost like having a development team of your very own!”
CCO - 250 Person Investment Advisor
Affirmations and Disclosures
Having employees affirm to your firm’s policies and disclose any potential conflicts of interest is basic to establishing an effective compliance program. Using paper or Word forms to collect this information creates a massive distribution and collection effort. Compliance11’s Affirmations module manages your affirmations and disclosures electronically so you can
manage risk, not paper.
Templates
Compliance11 provides pre-designed templates for some of the most common affirmations and disclosures. Each template can be customized to meet company specific needs. Firms may also create new templates with no IT assistance to quickly respond to evolving regulatory requirements. Some of the pre-designed templates include:
- Policy Acknowledgements
- Outside Business Activities
- Outside Brokerage Accounts
- Private Securities Transactions
- Criminal/Disciplinary Activity
- U4 Updates
Distribution
Questionnaires can be sent to one or more groups of employees. Upon distribution, employees receive a personalized email with a link to the questionnaire. If they do not complete the questionnaire within the allotted time period, automated emails can be sent to remind them to complete the questionnaire. Questionnaires can be automatically sent to new employees.
Disclosures
Completed disclosure forms can be routed via workflow to one or more approvers. Different disclosure forms can be routed to different approvers. Disclosure forms can automatically carry forward to next year so employees do not need to re-enter information (e.g. outside business activities, brokerage accounts, etc.).
Reporting
Reports are available to Compliance to do additional analysis. Reports include: Delinquency Report, Affirmation Report, Disclosure Report and more. All reports can be customized and exported to Excel and PDF formats.
FAQ
How do I create a questionnaire?
The intuitive interface allows non-technical employees to create questions with answers that can be configured to accept text, radio buttons, drop down boxes, numbers, dates, etc.
Can different employees receive different questions?
Yes. Employees can belong to one or more groups. Questionnaires can be sent to one or more groups of employees.
What is an Affirmation?
An affirmation is a question on the questionnaire. It is a statement that an employee certifies or attests to (e.g., having read a policy, having disclosed all their outside business activities).
What is a Disclosure?
A disclosure is information that an employee discloses to their company (e.g., an outside business activity, personal contact information, etc.). Disclosures can be routed for multiple levels of approval. Disclosures can also persist from questionnaire to questionnaire so they do not need to be disclosed again.
Do employees need to reenter disclosures each year?
No. The system optionally carries them forward to the next questionnaire.
Can I search the disclosures for a keyword?
Yes. There is a keyword search that searches every field in the disclosures.
Will brokerage account disclosures populate Personal Trading and vice versa?
Yes.
What else can I use the Affirmations and Disclosures module for?
Customers are using the system to replace all emails that require a response. This way they can track delinquent responses and have all the responses electronically filed. Some examples include: monthly branch review checklists, weekly email review attestations and risk review exception notations.
Why do I have to upload my policies? Can I link to them instead?
Uploading the policy allows the system to produce the exact version of the policy that the employee affirmed to.