RegAdvisorEA Features & Benefits.
Included in the “corporate governance” component of ESG is the presumption that financial institutions will adhere to applicable laws and regulations and treat consumers fairly. Failure to comply with laws and regulations can result in publicly-announced enforcement actions and civil money penalties that can harm the institution’s profitability as well as its reputation.
By reviewing public enforcement actions and civil money penalties, institutions can determine whether they are at risk of engaging in similar behavior, and ensure that policies, procedures, and practices are in place to mitigate any risk that is identified.
How It Works
Continuity’s Regulatory Operations Center reviews and summarizes enforcement actions issued by Federal regulatory agencies. RegAdvisor EA alerts are distributed through the Continuity platform, allowing institutions to easily share the information with others and determine the level of risk exposure that might exist and any follow-up that might be needed. Actions can be tracked and documented on the platform, and reports can be generated for presentation to management, auditors and examiners.
- Automatically receive summaries of and links to federal enforcement actions via the Continuity platform
- Select the agencies whose enforcement actions you wish to receive
- Forward the information to others to determine your institution’s risk exposure and whether any action is needed to control the potential risk
- Track and document the results of your review.
- Enforcement actions are automatically delivered to your institution - no need to search each agency’s website and risk missing something.
- Summaries are provided so you can quickly decide which enforcement actions to review in more detail to determine whether your institution could be at risk.
- Using the platform, you can engage others and track and document any actions that are taken to develop or strengthen related controls.