KoreConX, a free all-in-one solution that is disrupting the market by helping companies navigate the equity crowdfunding process and reduce risk, announced this week it has developed a new compliance tool for exempt market dealers (EMDs) known as Chief Compliance Officer (CCO) Module.
According to KoreConX, the CCO Module brings automation to the EMD process for KYP (Know Your Product), due diligence, KYC (Know Your Client), suitability, and escrow to meet EMD compliance requirements with local provincial regulators. The CCO Module is ideal for EMDs that operate online Regulated Crowdfunding portals for debt or equity, or for traditional EMDs who simply want a more efficient way of dealing with their compliance requirements.
Jonathan Heymann, director of compliance and registration at KoreConX, stated:
“As a former member of the Ontario Securities Commission, I saw first hand how EMDs lacked the tools that they needed to help with compliance. Today I’ve been helping many EMDs to stay compliant, and I see this as game changing, finally bringing EMDs into this century.”
The website then noted EMDs need tools like the CCO Module to ensure that their business is staying compliant, and that they’re well adapted to the changing market. Manuj Grover, director of business development Canada at KoreConX, added:
“Our goal at KoreConX is to bring a seamless solution to market to help all stakeholders and EMDs that are part of this ecosystem that companies rely on to raise capital. We have now made it easier for them to work together, and for EMDs to meet their compliance requirements.”