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By WS&T Staff
June 29, 2006

Tilney Investment Management Deploys Network Defence Compliance Software

Tilney Investment Management, a U.K. independent wealth manager, has implemented a new policy management software solution to ensure corporate and financial services compliance, in a project designed and implemented by security consultancy Network Defence.

Network Defence has installed the PolicyMatter policy management solution to strengthen Tilney's ability to practice and demonstrate FSA compliance. PolicyMatter ensures staff read, understand and accept all aspects of corporate policy, from financial compliance to IT Acceptable Use Policies and anti money-laundering regulations.

As an investment firm, Tilney is regulated by the Financial Services Authority (FSA) and has a legal obligation to keep all employees up-to-date with the latest policies and regulations. Failure to do so could result in serious financial losses, legal issues and damage to the company's reputation.

Tilney had previously used an email and paper-based approach to compliance. Network Defence addressed the managerial and administrative issues relating to compliance with PolicyMatter, a software solution that automatically presents new or amended policies to employees and provides management with an audit trail of changes and updates communicated through the life of a policy.

"We need to make sure that policies have been understood as well as read. Mistakes in our business not only cost money but also credibility," said Simon Chesterton, IT Service Delivery Manager at Tilney Investment Management, in a release. "Network Defence has helped us to strike the right balance between every day business and meeting FSA regulatory responsibilities. PolicyMatter has provided us with a simplified, automated and manageable approach to policy management, ensuring policy has been digested and proactively testing employees' understanding of the information."

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