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CounterpartyLink Announces the Immediate Availability of CPL COMPLIANCE for Best Practice KYC-Processes

9 October 2014
London, United Kingdom

Legal Entity Data, Independently Collected and Verified from Primary Source

CounterpartyLink, the Global Legal Entity Data Source Company and leader in KYC-relevant compliance data which is independently researched direct from source, today announces the release of CPL COMPLIANCE, the latest addition to the company’s existing portfolio of market-leading legal entity intelligence solutions.

CPL COMPLIANCE provides buy and sell side institutions with an independent view that has KYC at its heart.  It provides information on legal entities that has been independently researched, verified from source, across more than 200 jurisdictions, specifically to meet KYC standards of due diligence - all in one place, and maintained continuously.   Compliance teams gain instant access to all the KYC-relevant counterparty data needed to adhere to regulatory compliance, with a full audit trail – all of which significantly reduces the scope for misfiling or lack of updating by the entity in question.  Customers are able to act immediately rather than spend time researching changes themselves, affording more control and faster automated processes. 

The new solution offers a daily review and mapping of LEI codes with essential fields such as the LEI status for Dodd Frank, EMIR, and other reporting mandates, plus information regarding the SWIFT BIC codes indicating whether they are 'connected' or not, the newly introduced GIIN from the IRS, key for FATCA reporting, and the Regulatory and Exchange Listing status of parent companies to simplify risk categorisation.  These are all maintained on a continuous basis. 

Perhaps the most significant feature of CPL COMPLIANCE is the provision of Ultimate Beneficial Ownership information (UBO), down to 10% for all entities, where available.  Rather than individually drilling down to each ultimate parent record, this new feature is displayed in a `one view` process.  This means faster, more accurate checks, reduced subscription costs and significantly enhanced value for KYC, and other checks, where knowledge of ownership and control are important.

James Redfern, Managing Director of CounterpartyLink said: “CounterpartyLink has been in the legal entity intelligence business for more than 16 years and our ability to produce the most dependable compliance solutions continues.  Depth of knowledge, expertise, independence in the industry, and knowing what the customer needs to accomplish regulatory compliance through intelligence is paramount, and we continue to focus heavily on these strengths and what is valuable to the industry.“ 

“With the immediate availability of CPL COMPLIANCE we have once again produced a market-leading legal entity intelligence engine that is creating a safer and more reliable solution for compliance teams with KYC at their core.  

We continue to build on our solutions, and the unique characteristic of using ONLY `direct from source` legal entity data will absolutely remain." He continued.

CounterpartyLink`s ongoing mandate is to provide verified, reliable data.  Every entity record is made up of a collection of intelligence gathered and cross-referenced across more than 1,000 Government Regulatory, Registration, Exchanges and other Prime sources.  Strict rules and system validations are applied to each entity data field, by country, by type, all of which displays the source and provides the necessary documentary evidence for every field.

CounterpartyLink`s solutions connect seamlessly with enterprise and custom applications, there are no integration costs or issues.  Legal entity intelligence can also be supplied via direct data files or through CounterpartyLink`s web portal, CPL Online.

-ENDS-

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