Company / Product

ProFundCom and CompliantInvestors provide investor compliance self-certification

Published: 1 March, 2015

ProFundCom, the market leader in digital and email marketing for the finance sector, working with CompliantInvestors, is set to simplify and automate the issue of compliance thanks to the launch of a new app.

The Investor Certification and Compliance App provides an easy to use, email and web-based process aimed at any firm making financial offers through email and other digital means. In order to receive certain financial promotions, investors are required to be classified as either a Self-Certified Sophisticated Investor, Certified High Net Worth Investor or Certified Restricted Investor as defined in the FCA’s handbook. This means firms must have evidence that investors have signed a statement, within the 12 months before receiving a financial promotion, that confirms they meet FCA requirements and understand the ramifications of investing in offers.

Investor participation in certification has always been low for a number of reasons, forcing firms to employ a time consuming paper-based certification process in many cases.
The Investor Certification and Compliance App solves this problem by ensuring that all investors re-certify themselves annually in January, in order to streamline the process and ensure they receive all investment communications relevant to them.

The app provides a fully customisable web form that, once the required business logic has been implemented, allows investors to self-certify themselves as appropriate. After the form has been completed and signed digitally, investors receive an email confirming their investor status.

A working example would see the text of the email asking recipients to confirm if they are a Self-Certified Sophisticated Investor, Certified High Net Worth Investor or Certified Restricted Investor, as defined in the FCA’s handbook, and meet the necessary requirements. Recipients simply click on a link within the email to take them to the web-form and the app records the data on completion. An email confirming certified status is then automatically sent to the recipient.

“Compliance is a big issue for our clients, which is why we developed this new app,” says Paul Das, Founder and Managing Director of ProFundCom. “Not only does the app give clients a simple and effective way of ensuring/recording compliance but, crucially, it records proof that compliance has been given. With compliance such a minefield, and fines running into millions, this ensures increased efficiency and the peace of mind of being able to keep the FCA happy.”

“Clients who have tested the system for us are delighted. It has improved registration rates and drastically cut down on the amount of chasing needed to ensure you are complying with regulations. An added bonus is it helps you build a database of people who you know are receiving offers they want to receive. This makes for much more targeted and effective marketing.”

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