Conduct risk and compliance risk technology developer MCO (MyComplianceOffice) has acquired Schwab Compliance Technologies to support its expansion effort within in the RegTech space.
Schwab automates the monitoring of employee trading activity and administering a firm’s code of ethics.
As part of the deal, Schwab’s team will join MCO and support the transition for tis clients. Additionally, the Schwab Compliance Technologies product name has been changed to MyComplianceTechnologies.
Some of the details of the deal included bringing MCO’s team to over 1,300 people across 105 countries, a new office in Chicago and an expanded product suite.
MCO CEO Brian Fahey said, “We are excited for the next phase of our business and to officially welcome SCT and its team to the MCO family. It cannot be overstated how important the expertise of our newest MCO employees is to delivering value to SCT clients.
“Their knowledge and passion will help to bring together the best of both products, quickly and effectively, and ensure best-in-class KYE compliance for all. Today underscores MCO’s commitment to expanding and investing in this market. Our history of product innovation and strong client focus will help to cement the success of this acquisition and drive product growth for years to come.”
MCO provides compliance management software that helps companies reduce their risk of misconduct. Its platform lets compliance professionals demonstrate they manage the regulated activities of employees, third-party vendors and other agents.
Its product suite includes compliance oversight, ESG compliance, anti-bribery and corruption, senior managers & certifications, control room compliance, conduct risk, crypto compliance and more.
Copyright © 2022 FinTech Global
