KRM22 partners again with Bovill in delivering market abuse surveillance service

LONDON--(BUSINESS WIRE)--KRM22, a leading supplier of risk management software services, is pleased to announce another new customer taking advantage of Bovill’s innovative Market Abuse Surveillance Managed Service.

Bovill, the financial services regulatory consultancy, combines its in-depth compliance expertise service with KRM22’s cutting edge technology to provide a cost effective and robust solution to remaining compliant with Market Abuse regulation (MAR).

Market abuse surveillance is an ongoing challenge for firms. The pandemic and a prevalent culture of remote working has engendered new and unique difficulties with monitoring market abuse, particularly insider trading.

Bovill originally developed the concept of a managed service for market abuse alongside a working group of clients. Where larger institutions have used technology to identify suspected abuse for some years, many firms have not had the resources to implement this kind of technology solution or manage the outputs.

With increasing evidence that the FCA is identifying and pursuing potential market abuse breaches using their own technology, more firms are looking to upgrade their surveillance controls to pre-empt issues.

This new customer further demonstrates Bovill and KRM22’s combined ability to deliver best practice outsourcing alongside cutting edge technology.

Daniel Langley, Head of Compliance at KRM22, said:

“It’s great to have another customer onboard and see it as further proof of our strategy to partner with Bovill because of their expertise and long track record in managing market abuse risk. In this particular instance, we have been able to not only show our industry leading Market Surveillance system meets the needs of all market participants, but also deliver this with our news data service. We look forward to furthering this partnership in 2024.”

A spokesperson for Bovill said:

“Regulators have been clear that they want to see firms adopt technology where appropriate and, for many, manual surveillance is a compliance risk, due to the sheer volume of transactions they are monitoring.

“While almost all large firms have implemented technology to monitor market abuse, Bovill’s offering is clearly needed for firms that are not able to develop their own systems or afford expensive off-the-shelf products.

“We’re delighted to be working once again with KRM22 to support our clients.”