The challenge
Global regulation, from MiFID II and EMIR to new FCA rules, is continually evolving. Not only are new rules introduced on a regular basis in different jurisdictions around the world but existing rules are tweaked and updated constantly.
It can be time consuming trying to locate a specific piece of regulation and ensuring it’s the most recent version. Individuals also need to understand the interpretation and advisory work that their firm relies upon, which is often found in emails and spreadsheets.
Solution
Having a regulatory software solution with literal and semantic search functionality can make life much easier for legal and compliance teams, helping employees retrieve regulatory text quickly and efficiently. Regulatory mapping on the Single Rulebook platform is seamless with interactive rule maps providing visual guidance for every single rule, including how one rule or Q&A guidance links back to another.
Confidence is gained knowing that all team members are working on the same and most up to date version of the regulation. As in-house lawyers and compliance professionals adopt the platform into workflows and procedures, legal advice and regulatory opinions can be shared across teams, accessed by colleagues in real time and saved for future use. This creates significant operational efficiencies and reduces costs with less time and resources spent on regulatory search and legal advice.
Key Benefits
- Single source for researching regulation and rulebooks
- Regulatory mapping
- Easily track changing regulation
- Integrate the platform into workflows and processes
- Save time and resources