Optima’s Reg Compass is a comprehensive suite of regulatory, non-AML compliance for the MSB industry
Through Optima’s Reg Compass you can uniformly and seamlessly create, customize and file non-AML financial, periodic and event report with each state that regulates your MSB activities. The Reg Compass allows you to reduce the stress and costs associated with complying with the increasingly complicated web of reports and non-AML requirements imposed by the 48 states that regulate MSB activities.
Whether the reports relate to Average Daily Transmission Liability (“ADTL”), Ne worth requirements, adverse regulatory reports or run of the mill agent composition changes, the Reg Compass minimizes the efforts necessary to keep you in compliance and your state regulator informed about your regulatory performance.
Once you input your reportable information in one central location, the Reg Compass smartly considers the state that needs to receive the information and generates the report in the format that it is required to be filed. Most states require a mail filing (or even an NMLS filing), so we cannot guarantee it’s going to be done timely and also REG compass cannot directly communicate with the states.
The Reg Compass automatically maintains a history of all events conducted within its infrastructure and allows you to generate, reproduce and manage reports from multiple perspectives.