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Shaping the Future of Digital Compliance Monitoring for Financial Firms

CHATTANOOGA, TENN., August 17, 2023 - SIGNiX, a leading provider of secure and compliant digital signature solutions, launched Compliance Lock, a cutting-edge service to assist broker-dealers and RIAs in preventing fraud by monitoring and ensuring the authenticity of digital signatures, bolstering compliance measures in the process. In today's digital landscape, broker-dealers and financial advisors stand at the crossroads of technological innovation and regulatory oversight, and Compliance Lock helps them eliminate potential forgeries that could lead to fraudulent activities. 

Compliance Lock scans the detailed audit trails that meticulously record every step of the SIGNiX signing process. The service identifies transactions with red flags and notifies the firm’s compliance team. Once notified, compliance personnel, as part of a larger supervisory system, can immediately investigate those specific document workflows for concerning activity, as opposed to wading through thousands of data points.

This service is instrumental in helping firms align with regulatory standards, including FINRA Rule 3110, specifically referenced in Regulatory Notice 22-18, and which has been on many firms’ minds in recent days with news of high dollar fines and firings.

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Compliance Lock offers wealth management firms several strategic advantages in an industry where trust is paramount: 

  1. Proactive Risk Management: Stay ahead of potential pitfalls associated with signature falsifications and employee misconduct.
  2. Consistent Regulatory Compliance: Avoid hefty fines stemming from lack of oversight of digital signature discrepancies, aligning their operations with rigorous regulatory standards.
  3. Trust and Reputation:Send a strong message to clients about a firm's commitment to security and customer protection.

"We know that compliance, security, and reputation are paramount for broker-dealers,” said Jay Jumper, CEO of SIGNiX. “We developed Compliance Lock as a direct response to the evolving challenges posed by the use of electronic signatures. Our mission is to empower broker-dealers and RIAs with the tools they need to combat fraud and avoid costly fines and damaged reputations. Built on our patented digital signature and TotalAudit™ technology, Compliance Lock is an essential component of supervisory systems for digital signature transactions, helping firms achieve compliance with industry regulations."

The Compliance Lock service is offered as an add-on to SIGNiX’s existing, advanced and intuitive digital signature workflow services. In order to effectively mitigate emerging threat, the tool will continue to evolve and adapt based on client feedback and continuing research into this field, according to SIGNiX.

Industry experts have lauded SIGNiX's Compliance Lock technology. Marc Butler, an esteemed industry expert, emphasized, "Compliance Lock is a game-changer. Beyond being a strategic choice, it represents an industry imperative. The clear emphasis is on enhancing supervisory frameworks, asserting the authenticity of digital signatures, and reinforcing a firm's promise to its clientele to faithfully manage their wealth."


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About SIGNiX

SIGNiX is a premier provider of secure and compliant digital signature and remote online notarization solutions. SIGNiX's innovative products and services enable organizations of all types to streamline their signing processes while maintaining the highest level of security and compliance. Compliance Lock is recognized as a WealthManagement.com 2023 Industry Awards Finalist in the area of Compliance Technology. For more information about Compliance Lock and other SIGNiX solutions, visit www.signix.com.

Media Contact

Anthony Sims 

VP of Marketing