Compliance Solutions

Helping our clients navigate the compliance minefield with comprehensive and tailored solutions.

With the implementation date of MiFID II rapidly approaching, the technologies and solutions that regulated market participants rely upon to remain compliant are falling under intense scrutiny. Now, more than ever, the responsibilities of compliance managers and the teams managing compliance technology estates require a clear and evident plan for compliance technology management.

Take a look at our new compliance animation:-

Legacy replay and production solutions must not only meet regulatory requirements, but those with managerial responsibility for the infrastructure must be able to demonstrate their ability to proactively monitor, maintain and remediate faults in a timely fashion.

Are you a compliance officer in a trading or brokerage firm engaged in regulated activities pursuant to the Financial Conduct Authority? Or do you manage legacy voice recording platforms and compliance infrastructure running on end of life hardware or unsupported software versions and operating systems?

With compliance departments increasingly directing technological requirements that IT functions need to operate within regulations, now is the time to engage a compliance solution provider who delivers critical compliance technology services.

The challenge of legacy voice recording

  • Retention periods and litigation hold requirements are expanding
  • Legacy voice recording platforms and tools are often inadequate or outdated making prompt and effective response to regulatory requests unworkable
  • Compliance investigations continue to increase in scope and efforts required to deliver while time to reply to regulatory requests is decreasing due to more stringent deadlines imposed by regulators
  • Utilising multiple toolsets to manage legacy and production voice recording platforms independently creates multiple work streams and disparate manual processes
  • Legacy storage platforms that are obsolete or without support necessitate moving to storage options with write once read many (WORM) functionality to meet regulatory requirements
  • Previously common legacy tape devices are no longer being manufactured and those relying on such equipment to deliver regulatory retrievals are exposed to unnecessary risk of devices failure, maintaining spares if available and costly maintenance to keep devices usable

Where Crestwave can make the difference for your business

Expertise

  • Comprehensive experience within the Financial sector
  • Regular contact with Compliance & Regulatory bodies
  • Compliance technology consulting to ensure your business chooses the right technology and solutions
  • Compliance process consulting to ensure your business gets the most out of the technology you deploy
  • Compliance business consulting to ensure your business will remain compliant with emerging regulation

Compliance Engineering

  • Industry leading skillset in Voice Recording applications
  • Legacy VR platform migration
  • Archive storage migration
  • Automation & reporting
  • Database investigations
  • Health checks & system performance optimisation
  • Solution design, cost analysis and technical advisory
  • Project & Programme Management

Partnership

  • Long-standing partnerships with all the major vendors & providers
  • Geographical reach across major financial centres and beyond

Our Solutions Portfolio

Legacy Audio Tape & Archive Storage Migrations

Crestwave Solutions provides the peace of mind that legacy voice recordings, backup tape environments and obsolete storage platforms can be migrated, restored and or retrieved without the ongoing need to maintain the underlying end of life hardware and unsupported maintenance software.

The compliance assured and rigorous methodologies Crestwave provides through professional service engagements have been built from the ground up to ensure that data extraction and restore of email, file, audio and metadata is achieved more efficiently and accurately than can be achieved through native cataloguing, restoration and reprocessing technologies and delivers end to end accountability for compliance requirements through the delivery of clear and concise reporting throughout the data restoration lifecycle.

We work with our customers to ensure that their data is accessible, on time and on budget for regulatory requests, data centre exits and to meet core business initiatives. Our legacy audio tape and archive storage migration & restoration solutions guarantee scheduled, as well as ad hoc, restoration and extraction of email and data files from backup tape and the migration of legacy audio and associated metadata from legacy voice recording environments. Backup tapes can be restored at any time, even if the native environments are no longer available while the migration of legacy tape environments allows for the decommissioning of aged and unreliable hardware and software.

Crestwave Solutions provides the assurance that your legacy technology can be cost effectively and defensibly remediated without the need to maintain the legacy equipment and environment.

Mobile & Voice Recording Solutions

Enhanced compliance requirements have introduced a broader scope for both fixed telephony and mobile call recording, creating new challenges for organisations grappling with the technology needed to remain compliant. The goal for all regulated positions should be clear and consistent: you must be able to capture, index and archive all communications which could lead to a transaction or trade. In practice this means that all communications of regulated participants must be recorded and in many cases participants who aren’t named as regulated individuals are best served to be recorded as well. Organisations are furthermore obligated to show they have a plan to proactively monitor and maintain their compliance technology environment.

By addressing these obligations, it is organisations who implement and administer a comprehensive compliance technology strategy backed by robust and cost-effective solutions who will have a clear advantage in the market. Crestwave Solutions has cultured relationships with the leading providers of fixed and mobile recording solutions which coupled with our design and implementation expertise provides the best solutions for your business needs. Integrating these solutions with pre-existing on-site or off-site storage capabilities or with cloud based data storage architectures ensures that we can prevent any interference with the end user experience.

Hosted Compliance Data Capture Solutions

Crestwave Solutions Hosted Data Capture Solutions enables an organisation to easily manage all their retention policies for multiple data types, either individually, or for all data relating to a specific employee.

With the self-service portal, customers can manage the retention policy settings for all their data, giving them the flexibility to adjust as and when changes in their organisation policies occur, or when relevant legal or regulatory changes are made.

Once any data has reached the end of its retention policy, it is automatically removed or deleted from the system. If, however, any data has been put on legal hold, it will not be removed, thus keeping the integrity of any on-going investigation alive.

Compliance Consulting

The impending regulation will transform how IT, Communications, Compliance, Legal and E-Discovery teams or departments will operate the technology estates they rely upon to do their jobs. Crestwave provides expert level consulting for compliance technology, compliance processes and compliance business practices ensuring end to end solutions tailored for your compliance activities are delivered by proven methodologies, tooling and monitoring capabilities alongside Speech to Text and Analytics applications to meet your evolving regulatory demands.

Compliance Resourcing

Compliance Officers and Managers are in increasing demand across financial services and related industries, making Crestwave Solutions your go to provider for candidates with the appropriate skill profile and professional fit for your organisation.

GDPR

The General Data Protection Regulation (GDPR) will supersede the current UK Data Protection Act 1998 on 25th May 2018. Any organisation which gathers, stores or processes the personal data of leaving EU residents (name, address, email address, photo, IP address, location, information gathered by cookies and analytics data) will be subject to this regulation. Compliance is not a choice, but handled correctly, GDPR presents an opportunity to augment trust and reputation with responsible handling of data. It can help to build brand confidence and put in place parameters which will protect both organisations and the people they deal with.

It is important to understand that this new regulation will affect almost every part and department of your business: from Client Services, through Marketing, IT, HR. If you are a large organisation, you should make sure that all these parties work together to achieve compliance. There is already a lot of information available that companies can utilise to address some concerns. There is, however, a lot of misinformation which sometimes blurs the lines. Many might find it difficult to understand what they really need to do.

As each organisation is individual, so will their path to GDPR compliance be. Understanding the way in which data is gathered, processed, stored and protected will be key to devising a path to GDPR compliance to building reputation and avoiding penalties. Involving the right people from the start will help you on your journey to compliance.

At Crestwave, we take compliance very seriously and will be happy to share our knowledge and help you achieve your compliance goals by understanding your business challenges being enforced by the regulation and will work with you to ensure these challenges are overcome with our wide ranging knowledge and bespoke product offerings.