Commodity trading software group Brady PLC (LON:BRY) has launched a new cloud-based compliance software solution designed to support global commodity and energy firms manage risk across their organisations.
The product - Brady Accountability Compliance - will help companies in the commodities and energy sectors by automating the processes required to ensure compliance with the requirements of the Financial Conduct Authority's senior managers regime, certification regime and conduct rules (SM&CR).
The SM&CR requires companies to provide a high level of transparency across their organisations, even down to individual accountabilities and responsibilities. This includes providing documented evidence that they have taken reasonable steps to meet their regulatory obligations.
“This is placing mounting pressure on senior managers who currently struggle to meet the regulatory requirements via mostly manual and disjointed solutions,” Libby Koehn, Brady’s chief product officer said. “Without the correct tools to manage the reporting requirements senior managers could end up exposing themselves and their company to risks from non-compliance,” she added.
The company, which provides trading, risk management and settlement solutions to the energy and commodities sectors, has partnered with compliance technology firm Trailight to offer a solution specifically tailored to the needs of the energy and commodity sectors.
Brady said its accountability compliance software can be implemented either as either a cloud hosted or on-premise solution in a very short space of time, ensuring that frameworks, data, records and appropriate outcomes can be put into place quickly.
Shares in Brady were 0.4% up at 66.75p in mid-afternoon trade.