Complinet counts over quarter of a million active compliance e-learning users per annum and revenue growth of 300%
London – 02 December 2008 – Complinet, the leading provider of connected risk and compliance solutions for the global financial services industry, announced today that it has more than 250,000 clients now using its wide range of compliance and regulatory e-learning courses in the UK. The company also announced that e-learning revenues have increased by 300 per cent over the past three years.
Complinet serves 527 firms with e-learning courses and was the first to update market abuse courses with the new prohibition on the short selling of financial shares. Complinet's e-learning compliance solutions offer regional and international courses on a wide-range of subjects such as Anti-Money Laundering and Terrorist Financing, Fraud, Market Manipulation and Insider Trading, Data Privacy and Information Security, and Ethics to name but a few. The e-learning courses can be tracked and audited. Clients vary from very large to very small because of the courses' low-cost deployment options.
Mark Martin, director of regulatory training at Complinet, said: "Our revenue has grown by 300 per cent over the past three years. The quality and depth of our course feedback confirms our belief that we are the largest provider of compliance and regulatory e-learning courses. We focus exclusively on compliance courses and have a vast array of compliance experts in-house who build the courses, and ensure they are up-to-date and relevant to the changes and needs of compliance professionals in the marketplace. This is critical in the current climate."
Chris Pilling, Complinet CEO, said: "We're a safe choice for all companies with tight budgets that need this critical training for their compliance staff. Our e-learning continues to outperform in the market and we are confident that we are now the market leader for compliance and regulatory e-learning in the UK."
As recently as last week, Market Watch 30 (FSA newsletter on Market Conduct and Transaction Reporting Issues) set out best practice guidelines in market abuse training which included e-learning.
The regulator said: "We welcome the introduction of formalised training modules that focus on the treatment of rumours and handling of unsubstantiated information. The form of training and communication to staff may differ among firms, depending on their size, primary focus, and their role in the financial market place….. This can be done in a formalised way through inclusion of modules on handling of rumours in annual market abuse training. Such training can be delivered to groups of employees or on a one-to-one basis. It can include both e-learning modules and case studies based on the most common situations in which staff encounters rumours in their everyday job."
About Complinet
Complinet is the leading online provider of connected risk and compliance solutions to the global financial services community.
Complinet's cost-effective range of services includes a 'complete' service that delivers insight and interpretation of regulatory risks and developments. Our portfolio also helps firms to screen their clients, manage their policies and train their staff.
Complinet was founded in 1997 and employs more than 200 people in its offices in New York, London, Sydney, Melbourne, Singapore and Dubai. Every day, industry professionals in more than 1,800 firms across 81 countries rely on Complinet as their information partner for ongoing analysis and solutions that help them keep pace with changing regulations.
