[Photo:  by rctsystems.com]

The BasisCode Advisory Council will provide independent guidance and industry insights

The WSJournal Compliance Blog reports that 4 compliance services firms are banding together with a compliance software company and a cybersecurity firm to form an advisory council to promote best practices among compliance industry consultants – (i) Alaric Compliance Services; (i) Cipperman Compliance Services; (iii) SEC Compliance Consultants; (iv) BasisCode.

The BasisCode Advisory Council will provide independent guidance and industry insights that reflect ongoing changes in the regulatory environment, incorporate feedback from member firms’ clients and offer a way for companies to tap into the expertise of more consultant firms without having to have different technology platforms for each one.

Guy Talarico, Alaric Compliance Services:  “Complementing our expertise with time-tested technology is ultimately a win for our clients, who can reduce their reliance on manual processes without us having to build capabilities from scratch.”  

Carlos Guillen, BasisCode: “The objective is to identify and create standards for clients where they have a standard process [the same technology platform] that all consultants can deliver services by.”

Todd Cipperman, Cipperman Compliance Services: “We can share best practices and experiences that will ensure that our clients are prepared to handle changing regulatory challenges.”

John Lukan of SEC Compliance Consultants: “We don’t pretend to be cyberexperts so we invited experts to join us. While technology itself will never replace the expertise and judgment provided by a compliance consultant, technology is absolutely required to provide an effective and scalable compliance offering to clients.”