The market conduct examination process for insurance companies is complex, time-consuming and costly. A common practice to tackle these challenges is to conduct a risk-based approach to one’s business. Under a risk-based model, companies identify the business practices that are of significant regulatory interest or that have resulted in significant regulatory fines and ensure that those areas of increased risk are compliant. Access to market conduct exam criticisms is a critical link for companies to identify those compliance risks, which are typically regulatory hotspots.
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Insurance Companies
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Banks and Securities Firms
Wolters Kluwer’s NILS™ MCE solutions offer the following benefits:
- Access to market conduct exam criticisms
- Ability to perform self-audits
- Easily review state requirements for a specific line of business
- Linked legal requirements to subject categories and terms
- Reporting to ensure compliance accountability
NILS MCE Enhanced Data
Helping
market conduct professionals identify the business practices that are
of significant regulatory interest or that have resulted in significant
regulatory fines and ensure that those areas of increased risk are
compliant.
NILS™ MCE Enhanced
Data
The Market Conduct examination and internal compliance review and prioritization
process is complex, time consuming and costly.
Financial institutions facing regulatory scrutiny need a solution to help manage regulatory exams and inquiries, which ultimately can help to avoid fines and unwanted publicity. Let Wolters Kluwer be your partner during your regulatory examination execution.
- Manage regulatory exams for a line of business or function
- Perform readiness assessments
- Review recent regulatory changes
- Review open and closed issues from past regulatory exams
Regulatory Exam Management for Financial Institutions
An integrated and streamlined approach to improve regulatory examination and inquiry management.
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