NEW YORK, Jan. 17, 2012 /PRNewswire/ -- Ipreo, a leading global provider of market intelligence and productivity software to both capital markets and corporate investor relations professionals, announced an enhancement to its iCompliance online certificate library to help broker-dealers meet the Financial Industry Regulatory Authority (FINRA) Rule 2111 requirements.
Effective July 9, 2012, all broker-dealers transacting or making investment recommendations to clients must comply with FINRA Rule 2111, which establishes new standards for suitability. It also provides for exceptions for institutions who submit a certificate establishing ability to exercise independent judgment.
Ipreo's iCompliance solution provides broker-dealers with instant access to thousands of U.S. compliance-related certificates across asset classes, including QIB and FINRA 5130/5131 for IPOs. In addition, Ipreo is now approved by FINRA and the Securities Industry and Financial Markets Association (SIFMA) to provide the industry with a solution to meet the upcoming Rule 2111 requirements.
"This is a natural extension of our certificate library," said Jennifer Sun, EVP and MD of Equity Capital Markets at Ipreo, "and we are uniquely positioned to support these compliance efforts in that the majority of investors who require these types of certificates are already identified in our Bigdough contact database, greatly facilitating the fulfillment and timeliness of the compliance requirements."
Ipreo is a premier global provider of high quality data, market intelligence, and productivity solutions to investment banking and corporate clients. With decades of experience serving the capital markets, and a reputation for superior customer service, Ipreo is both a dynamic innovator and a trusted resource. Ipreo has more than 600 employees and operations throughout the world. Ipreo is majority-owned by private equity firm KKR (www.kkr.com). For more information, please go to www.ipreo.com.