MYCOMPLIANCEOFFICE CLOSES SCHWAB COMPLIANCE TECHNOLOGIES ACQUISITION

KUALA LUMPUR, May 5 (Bernama) -- MCO (MyComplianceOffice), a global provider of conduct risk and compliance technology, has announced the finalisation of its acquisition of Schwab Compliance Technologies (SCT), a solution that automates monitoring employee trading activity and administering a firm's Code of Ethics.

The closing of the deal marks a meaningful step toward the company’s expansion and position as a leading authority on conduct risk and compliance technology

The SCT team is now part of MCO and will continue to deliver exceptional service as well as ensure a smooth, effective transition for SCT clients. Additionally, as part of the sale, the Schwab Compliance Technologies (SCT) product name was changed to MyComplianceTechnologies (MCT).

In a statement, 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.”

The close of this acquisition brings MCO’s client firms to more than 1,300 in 105 countries; increases staff numbers to over 250 people dedicated to serving a growing customer base from offices located in the US, Ireland, India and Singapore; opens a new Chicago office from which to best serve newest clients; and, creates a highly complementary set of products, customers and employees to accelerate MCO growth.

-- BERNAMA