- Thomson Reuters Wins Two Awards for Best Regulatory Change and Compliance Training Solutions
Thomson Reuters Wins Two Awards for Best Regulatory Change and Compliance Training Solutions
Thomson Reuters Regulatory Intelligence (TRRI) has scooped two coveted industry gongs at the Regulation Asia Awards for Excellence during an online ceremony on 15 December 2020. The awards were selected by a judging panel featuring 12 high-profile industry experts, consultants and compliance practitioners.
TRRI was selected as the winner in the categories for Best Solution in Regulatory Change Management and Compliance Training Provider of the Year.
In the Regulatory Change Management category, Thomson Reuters stood out for the “extensive scale of its regulatory intelligence offering.” It covers more than 1,200 regulatory bodies, resulting in over 56,000 alerts being distributed to clients over the past year. During the COVID-19 pandemic, a special update service was also introduced, as well as an online portal to provide staff working remotely with a venue for online education.
In addition to keeping financial institutions updated on regulatory changes in near real-time, TRRI also provides practical analysis of regulatory events and offers a workflow solution — in partnership with IBM, RSA and Refinitiv — which allows firms to manage and prioritise the most relevant changes. The results are tailored to individual businesses, with a customisable regulatory events calendar and organisation-wide reporting functionality.
“Thomson Reuters provides a comprehensive solution from the perspective of coverage and its ability to perform an impact analysis of regulatory events,” said one of the judges on the awards panel.
The workflow solution allows firms to initiate action from the regulatory intelligence, enabling relevant stakeholders to manage regulatory change efficiently, actively and with confidence. This is critical amid the constantly changing regulatory environment.
In the Compliance Training Provider of the Year category, Thomson Reuters emerged as the winner in a packed field. The company stood out for delivering a compliance learning solution that is “both comprehensive and unique in its approach to instructional design, course structure, content flow and learner engagement.”
Thomson Reuters’ course catalogue covers everything from AML/CTF and modern slavery to conduct risk, information security and risk management. The courses offer different levels of tailoring, depending on the client’s needs. In some cases, TRRI’s panel of lawyers, ex-regulators and industry experts provide bespoke courses to meet their customers’ requirements.
“Thomson Reuters covers a huge range of data. Its ability to draw upon this knowledge and convert it to the training environment, underpinned by expertise from professionals in the field, is unparalleled,”
“The holy trinity of technology, expertise and data makes Thomson Reuters a force to be reckoned with.”
The awards ceremony heard that TRRI’s courses, supported in over 25 languages, are “practical, interactive, customisable, and available across multiple platforms.”
“They include carefully selected case studies, enforcement cases, news articles, business-related scenarios and examples to demonstrate relevance, enhance understanding and aid with retention,” the judges said.
The Regulation Asia Awards for Excellence, now in their third year, have become the industry benchmark across the Asia-Pacific region. The awards recognise financial institutions, technology companies, legal and consulting firms, exchanges and other players that have helped to meet the challenges of the ever-changing and increasingly complex regulatory landscape in Asia-Pacific.
Each year, submissions are diligently evaluated over a period of months and award winners are selected by a panel of industry experts serving as judges.