KRM22 partners again with Bovill in delivering market abuse surveillance service
December 14 2023 - 11:15AM
Business Wire
KRM22, a leading supplier of risk management software services,
is pleased to announce another new customer taking advantage of
Bovill’s innovative Market Abuse Surveillance Managed Service.
Bovill, the financial services regulatory consultancy, combines
its in-depth compliance expertise service with KRM22’s cutting edge
technology to provide a cost effective and robust solution to
remaining compliant with Market Abuse regulation (MAR).
Market abuse surveillance is an ongoing challenge for firms. The
pandemic and a prevalent culture of remote working has engendered
new and unique difficulties with monitoring market abuse,
particularly insider trading.
Bovill originally developed the concept of a managed service for
market abuse alongside a working group of clients. Where larger
institutions have used technology to identify suspected abuse for
some years, many firms have not had the resources to implement this
kind of technology solution or manage the outputs.
With increasing evidence that the FCA is identifying and
pursuing potential market abuse breaches using their own
technology, more firms are looking to upgrade their surveillance
controls to pre-empt issues.
This new customer further demonstrates Bovill and KRM22’s
combined ability to deliver best practice outsourcing alongside
cutting edge technology.
Daniel Langley, Head of Compliance at KRM22, said:
“It’s great to have another customer onboard and see it as
further proof of our strategy to partner with Bovill because of
their expertise and long track record in managing market abuse
risk. In this particular instance, we have been able to not only
show our industry leading Market Surveillance system meets the
needs of all market participants, but also deliver this with our
news data service. We look forward to furthering this partnership
in 2024.”
A spokesperson for Bovill said:
“Regulators have been clear that they want to see firms adopt
technology where appropriate and, for many, manual surveillance is
a compliance risk, due to the sheer volume of transactions they are
monitoring.
“While almost all large firms have implemented technology to
monitor market abuse, Bovill’s offering is clearly needed for firms
that are not able to develop their own systems or afford expensive
off-the-shelf products.
“We’re delighted to be working once again with KRM22 to support
our clients.”
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Kim Suter, +44 203 740 3900
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